Manipulating Currencies Is When You're Going Into

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.

The Yen Is Trading Where It's Trading Because People Are Guessing About People's Future Interest Rates, Dollar And Yen And About The Future Growth Potential Of The Economies. And, If This Policy Works, Then The Yen Will Probably Strengthen.

You've Seen Certain Credit Type Products That Are Going To Be In Nonbanks, Like Sophisticated Clo [collateralized Loan Obligation] Tranches And Stuff Where The Capital Charge Is So High That A Bank Simply Will Not Own It. Someone Will Buy It, Hedge It, Trade It. But It Won't Typically Be A Bank.

We Were A Land Of Opportunity. You Can Never Have Equal Outcomes, But You Can Have Equal Opportunity.

On Wall Street, There Is No "wall Street"; There Are Individuals.