“The complexion of the markets and the prospects for the firms have all shifted pretty dramatically in the past 60 days. Investment banking was much stronger than normal and no one took August off.”
“We need to look at that. Were they [international investors] to lose interest, it would also have an impact on our exchange markets and equity markets simultaneously.”
“We're still in the upswing of one of these long M&A cycles, which tend to last several years. M&A growth will probably be up 15 to 20 percent next year.”
“We effectively have a bull market in regulation, the likes of which we haven't seen since 1934 to 1940. The industry is fully committed to compliance ... [but] our industry really needs effective rules administered efficiently.”