I Think Normalization Is A Good Thing.

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.

We Did Not Anticipate The Political Fallout From It. We Definitely Didn't Need It And We Paid It Back The First Day We Were Allowed To.

If You Went To All Those Little Towns In America, Jpmorgan Was There In Good Times And Bad Times, And, In Fact, Helped A Lot Of People Through The Tough Times. And We Know That's When They Need Us The Most.

You Don't Run A Business Hoping You Don't Have A Recession.

The Question Is How Do You Do It [more Consumer Protection] So That It Actually Works That Way? And That Takes Analysis, And Sometimes Collaboration Between Government And Business, To Understand How That Works.