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Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.
If you have the choice, it's far better to say, "That person has the job, and they really don't need that much of my oversight." Maybe they don't need any of it.
Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.
I think the way NOW characterized Smith Barney is disgraceful. I am appalled that an organization like that would not have reserved judgment (until) making their own investigation.
Capping the size of American banks won't eliminate the needs of big businesses; it will force them to turn to foreign banks that won't face the same restrictions.
America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all.