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Investment banking is not a business; it is a personal service where bankers work hand in hand with their clients. And it is a service that must not simply be about making bigger and bigger deals that reap rewards for only a small group of executives.

What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is a middle man - someone who is here to match people who need capital with people who have capital - and not position ourselves at the center of that by taking big positions on a trading stance.

There's more honor in investment management than in investment banking.

Let's be honest: the trappings of investment banking are quite tempting. I do miss it sometimes. And to be honest, there was a time I'd read the 'WSJ' in the morning, and for years I have done that.

I happen to know a bit about banking.

I like putting my money into things like food and shelter. I'm probably a bad example of an investor.

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

Banking technology has made it simple and efficient to invest in good causes.

Commercial banks are very good for certain businesses, like loans and guarding other people's money. They're not great investors or entrepreneurs.

Banks are an almost irresistible attraction for that element of our society which seeks unearned money.