We're Not Fair Weather Friends.

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.

Economies Of Scale Are A Good Thing. If We Didn't Have Them, We'd Still Be Living In Tents And Eating Buffalo.

We Have A Lot Of People Who Are Republicans, A Lot Of People Who Are Democrats, And It's Not Just Because Of Business Reasons.

Banks Don't Want Certain Asset Classes, And That's Created Opportunities For Private Equity, Hedge Funds, Silicon Valley. In This Case I Think He Was Referring To Some Of The European Banks Shedding Assets, And The Big Buyers Are Probably Not Going To Be Big American Banks. Someone Like Blackstone May Have A Very Good Chance To Buy Those Assets, Leverage Them, Borrow Up A Little Bit, And Do Something Good There.

We Got A Lot Of Excellent People And Businesses From Bear And Wamu. But Bear Definitely Was More Painful. Wamu Got Us Into Florida, California, And Other States, Which Was A Huge Benefit - To Expand And Grow And Add Middle-market, Private Banking, Investment Banking, And Other Products, Too.