It Can Take A Long Time To

Part Of The Reason Some Japanese Companies Have Underperformed Financially Was Corporate Governance And Board Structures.

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.

There Is A Lot Of Focus On That First Rate Move, And I'm Not Sure How Important That Is.

The Term "too Big To Fail" Must Be Excised From Our Vocabulary.

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.