A key thing investors wanted to see was strength in corporate and investment banking, and we got that.

I miss his charisma. People listen to Warren Buffett for investment ideas and Bill Gates for technology. There was a general consensus that when Greenberg spoke about insurance, you wanted to listen.

Any time you get an FDA warning letter it is negative.

They were always behind Goldman Sachs, Lehman Brothers in trading, but they've redoubled their efforts in the last 24 months to increase investment spending in that area. Now they're getting the double benefit of good markets and more resources.

The big negative is their retail franchise was weak, hurt by contracting net interest margin.

It's still good momentum. Cash flow for the year was up significantly.

It's positive that AIG settles. AIG has more than enough capital.

You're still in the beginning of the upturn in its long-cycle businesses, and that's why it's projecting very strong earnings momentum for the next several quarters.

a one-time event but part of doing business, so if you split the difference, (profit per share) is 99 cents.

At the end of the day the market moves to earnings.