It's Great That People Get

The Transaction Reflects Our Disciplined Strategy Of Investing Capital In Core Businesses Where We Can Leverage Scale And Expertise For Competitive Advantage. In Addition To Being A Great Strategic Fit, The Deal Is Compelling Financially.

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.

Businesses Can Be Opaque. They Are Complex. You Don't Know How Aircraft Engines Work Either.

I've Been Regulated My Whole Life. We Have Progressive Taxes. It's Not A Free-market Free-for-all. I Completely Understand That Society Has A Perfectly Legitimate Right To Put In Structures And Regulations And Rules That Make It Fairer, Better, Cleaner.

Dodd-frank Is 2,000 Pages Long. It Covers Thousands Of Rules, Regulations, Interpretations And Things Like That.