Beware of people carrying ideas. Beware of ideas carrying people.
I know the President [Barack Obama]. I like him and respect him. That does not mean I agree with all of our government's policies, whether they come from Democrats or Republicans.
I don't think you're going to have one bank. Big companies aren't going to give us all their business. So they can pick and choose - by product, by country, whatever. We have major competition across every product in every place we operate.
But in general, as countries get wealthier, there's going to be more savings, which means you're going to have intermediation. So part of it is just the huge growth in wealth, and part of it was globalization - these companies, these clients getting much bigger and much more global.
Let's look at lending, where they're using big data for the credit side. And it's just credit data enhanced, by the way, which we do, too. It's nothing mystical. But they're very good at reducing the pain points. They can underwrite it quicker using - I'm just going to call it big data, for lack of a better term: "Why does it take two weeks? Why can't you do it in 15 minutes?"
I am struck that so many of our leaders in the U. S. forget how strong our country can be.
My guess is the big Chinese banks will be in 100 countries by then. They will have very sophisticated operations, and they may very well have bought banks around the world in countries that allow it. I mean, I don't think the American government would allow them to buy JPMorgan. But they will be able to buy a sizable big bank in the U. S. at some point. Whether they do or not, or if it's allowed or not, I don't know.
To move with the times is, of course, to go where all times go.
The very definition of news is something that hardly ever happens. If an incident is in the news, we shouldn't worry about it. It's when something is so common that its no longer news - car crashes, domestic violence - that we should worry.
The traveler may feel assured, he will meet with no difficulties or dangers, excepting in rare cases, nearly so bad as he beforehand anticipates. In a moral point of view, the effect ought to be, to teach him good-humored patience, freedom from selfishness, the habit of acting for himself, and of making the best of every occurrence.
One must steer, not talk.