We Invested In The Downturn And We

We Got A Lot Of Excellent People And Businesses From Bear And Wamu. But Bear Definitely Was More Painful. Wamu Got Us Into Florida, California, And Other States, Which Was A Huge Benefit - To Expand And Grow And Add Middle-market, Private Banking, Investment Banking, And Other Products, Too.

Look, Every Institution Will Make Mistakes. I Acknowledge We Make Mistakes, And They Can Hurt My Reputation And Our Company's. But You Also Must Be Willing To Let Go A Little Bit, Trust Others, And Not Always Be So Stringent, Provided You Have Robust Controls.

Their [american Banks] Big Issue Will Be If They Want To Deal With The Biggest Companies, Which Are Doing A Lot Of Business Overseas. How They Do That Is A Big Question. It's Almost Impossible To Build A Global Investment Bank From Scratch. If They Want To Do That, They Probably Will Have To Do An Acquisition.

The Real Story In Housing Will Be A Recovery In The Economy That Will Drive A Recovery In Housing, When People Are Working, When There Are More Jobs, More Households Forming And People Go Back To Buying Cars, They're Going To Want Their Apartments And Homes. And That's When You'll Start To See A Recovery In Home Prices.

Prime Minister Modi [narendra] Is Strong Enough, And He's Accomplished Much.