I Think Normalization Is A Good Thing.

We're Not Fair Weather Friends. We've Been In Places For A Long, Long Time.

There Are Two Types Of Depreciation. There Is One Where You're Manipulating Currencies. And That's Not What Japan Is Doing.

I Think If We Had Another Set Of Policies For - Not The Crisis Years, But After That, That We Might Be Growing Faster. But We Didn't. And Some Of That Was Republicans' [fault], By The Way.

One Of The Issues With Some Of These Lenders Is Going To Be, Where Will Their Provider Of Credit Be When There's A Crisis? That's Why Some Of These Smarter Services, To Support Their Operations, Are Courting More Permanent Capital. They Want A Source Of Longer-term Funding That Can Survive A Crisis.

My Father And Grandfather Were Stockbrokers, And They Would Actually Take Stock Certificates From A Vault, Give It To A Runner, And Send It To Another Vault. Then Somebody Said, "let's Digitize It And Have One Vault." Now The Dtcc Clears And Settles Almost Everything, And The Cost Of Doing A Trade Is A Tenth Of What It Was Before.