We Don't Think There Are Cases Where

We're Diversified, We're Stable And Consistent. Our Businesses Benefit From Each Other.

A Lot Of These Things Have Hurt The Average American. When They Look At The Banks And They Say, "well, The Bank's Talking Its Own Game," I Am Telling You, What We've Done In Mortgage Lending, Our Inability To Have Proper Regulations Around Mortgages, Has Hurt Average Americans. First-time Buyers, Immigrant Buyers, Prior Defaults, Self-employed, Because They Can't Get A Mortgage. Will It Make A Big Difference To Jpmorgan Chase? No, But You're Hurting My Fellow Citizens. Let's Go At It, And Let's Fix It.

I Think Normalization Is A Good Thing.

I Advise Other Companies' Ceos, Don't Fall Into The Trap Where You Go, 'where's The Growth? Where's The Growth?' Where's The Growth?' They Feel A Tremendous Pressure To Grow. Well, Sometimes You Can't Grow. Sometimes You Don't Want To Grow. In Certain Businesses, Growth Means You Either Take On Bad Clients, Excess Risk, Or Too Much Leverage.

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.