You Can Design A Mortgage System That

It Takes 10 Years To Get All The Permits To Build A Bridge Today. Ten Years? What Happened To The Good Old Can-do America? Where Is "we Get It Done, We Work Together"? We've Become This Bureaucratic, Stifling Environment. I'm Not Talking About Violating Environmental Things - I'm Talking About Building A Bridge, Getting Things Going, Getting People To Work Together.

People Always Say To Me, "what If It Doesn't Work?" If It Doesn't Work, We Redouble Our Effort. We're Not Going To Cry Like A Bunch Of Babies. We're Going To Redouble Our Effort.

We've Accommodated The New Rules And Regulations. We've Served Our Clients And Had Quite Good Returns.

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.

At Travelers, We Were Much More Opportunistic. It Was Very Successful, But It Wasn't An Integrated Financial Services Company. We Had A Property Casualty Company, A Life Company, A Brokerage Company. We Were A Financial Conglomerate. It Wasn't A Unified, Coordinated Strategy Of Any Sort. When It Merged With Citi, That Became A Big Issue; Citi, At That Time, Wasn't Yet A Fully Integrated, Coordinated Company.