Also in this playlist...
This transcript is automatically generated
-- into the crisis was coming I don't think that was the reason productive job or not do it I think we're pretty proud we've accomplished in 09010 and eleven.
But we try to do something great last year we dared to do something no one had really -- to industry if it didn't work.
You lick your wounds and we come back and if I hearted and expect some people would say you should read deliberately.
You look back selfless as it was it was a -- I think I suppose but hindsight has the benefit of the and you know perfect vision right we we get all that calculus we we did all the checking we could.
-- certain people were going to be fight hard against us right we understood that was part of the deal.
At the same time there were sitting -- saying.
We see with with how the EU and the EC has been defining these markets as long as they're consistent with that definition will get approved.
And we get tripped up in a place where you would have predicted no matter how much working with the annuity got tripped up so that until -- -- go.
-- just said -- been in the job since 2007 Jamie Dimon once -- -- said.
The average lifespan but life's been good tenure shipment two point.
Maybe that's where we're trading lifespan as well -- and CEO is now open some like five years it's it's it's shrinking obviously.
There have been -- -- -- hello this is.
Right so I get the job really at the tail end of 07 -- it'll -- five years from me at the end of this year.
I have some pretty simple -- as on this every one of our jobs can be defined pretty simply.
You leave every situation better than you found it.
You accept the fact that you're the right person for the job until you're not the right person for the Japanese more and your job is to find the right -- so for example has said publicly before.
If we're in the process of migrating this company to where it's more of you know very global company but -- that's more of an applied technology company that one that really is and that you know to stabilize its company.
I'd be the first to admit -- -- that at that time.
There should be someone in my C.
Who knows how to run a a truly global commercial technology business I'm sure there's better people to do that so than -- -- it it it could be soon to say I don't I don't know that transitions in the I think that transition is.
Is is still an inflight.
I think Cheney's point is a good when I was summarize it by saying the right person for the definitely not the right person for the job I love my job to privileged to have I'm I'm thrilled to do what I love this place.
-- -- the guys who work Carol get your logo quickly get awhile ago I'm -- here for a -- okay only 52.
I know you talked about life's inevitable yeah.
That's terrible could really -- It's been more than a year since the last flash crash whether it almost two dollars and you're right almost two years pretty dramatic events that.
Did -- say won't ever happen again.
-- -- I think collectively the industry's taken steps -- that.
An event that severe shouldn't happen again I think the circuit breakers alone prevent something like that from happening.
But I think the bigger issue we have to focus on it is I am still nervous and it's not just with the obvious self interest fellow that certain part of it.
Certainly part of it I am increasingly nervous about.
The markets becoming more -- We're not gonna shut -- the competition competitions here to stay it would be nice if we were able to compete on an even playing field with the less regulated dark pools.
And certainly we want -- -- that made -- move that I it I think it's I think it's a long process there are things you can do that are gonna strike many years as a backward step.
I think with whatever we all have to ask ourselves is.
And I think on the blacks to stand -- right it's it's -- if as as we said to each other the other day if if if a few of us not gonna defend the public markets who is.
And I don't think I can stand up with credibility and say -- we understand competition's here it's okay that the that the equity market is going away the OTC market.
We just learned in the crisis -- -- not good for investors it's not good for risk management and here we are taken the world's most transparent market.
And -- -- and track to -- to being more moral thing oblivion again yeah.
Okay you have to be careful I think we've got to be responsible about that and not be afraid to stand up and say -- we believe.
Even though we know that's gonna run contradict some of the people so -- I'm sure we're gonna here you say that much more on the boxes that -- Duncan thank you -- fairly good to see you guys.
Filter by section