You Read Constantly That Banks Are Lobbying

At Travelers, We Were Much More Opportunistic. It Was Very Successful, But It Wasn't An Integrated Financial Services Company. We Had A Property Casualty Company, A Life Company, A Brokerage Company. We Were A Financial Conglomerate. It Wasn't A Unified, Coordinated Strategy Of Any Sort. When It Merged With Citi, That Became A Big Issue; Citi, At That Time, Wasn't Yet A Fully Integrated, Coordinated Company.

I've Always Wanted To Help Build A Better Society And Build A Better Company, And I Always Wanted A Healthy, Vibrant Company, A Healthy, Vibrant Society. We Take Care Of Our People, We Provide Them With Opportunity. But I've Always Believed Business Is Here To Serve Your Clients, Your Shareholders, Your Communities. If We Do This Well, Everyone Benefits. We Have To Do A Good Job For All Of Them.

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

We See Very Broad-based, Moderate, Growth. Most Of The Sectors Are Quite Strong. I Don't See Any Major Potholes, And I Believe [the Economy] Is Strengthening.

You Would Expect To See That First In High-yield [debt], But It Was In The Most Liquid Thing In The World. So That, I Think - It's A Little Bit Of A Warning That We've Got To Be Prepared And Just Be Careful.