It's Great That People Get

They Have A Policy In China For Their Big Companies Called "go Abroad." It's A Rational Thing For Both The Company And The Country To Say, "we Want Big, Successful Companies." Particularly In Areas Where They Need It: Agriculture, Energy, Technology. I Think Banking, Too. One Or Two Have Bought A Trading House. Some Have Already Begun Expanding Around The World. Of Course They're Going To Have Those Ambitions. Why Wouldn't They? They're Just Doing It Methodically. It's A Logical Strategy And, Well-executed, They Will Succeed.

Now The Japanese Companies Are More Focused On That. To Have Two Independent Directors - I Think It's Good To Have Outside People Look At You And Think Of What You Could Be Doing Better. Those Are Voluntary, But Most Of The Companies Told Me They're Going To Do It. And I Think It's Good For Them To Say Our Returns On Equity, For Example, Should Be Higher. Also, I Think Some Could Be More Ambitious.

I Speak To Lots Of People Around The World, And No One Would Tell You That 25 Basis Points Will Make A Difference To Them.

Jp Morgan Always Has Higher Capital Liquidity, That Is Partially To Make Up For Mistakes And Problems And Obviously Its A Tough Economy. We Support An Oversight Committee, We Supported Some Of The Compensation, New Compensation Rules, Though We Already Follow Most Of Them. We Support A Lot Of It.

Our Global Corporate Investment Bank Competes With Goldman Sachs, Citibank, And A Bunch Of Other Banks That Are In Those Businesses. We May Have Slightly Different Products Or Services, But So What? That's Always Been True In American Business.