Trillion dollars are almost in loans, you've got 6,200 branches, maybe more than that by now. What do you see right now?

上兆的可借貸款，目前超過六千兩百個分公司，你現在著眼的計劃是什麼?

Actually the economy is fundamentally strong, but the strength is regional. So we re-regionalize the country from a economic perspective.

現金的金融體系很穩固，但是是有區域限制性的。所以我們重整這樣的區域特性，把有經濟實力的區域納入其中。

And what I mean by that is, take the bay area for example, it's strong here as I've seen in my 13 years.

拿灣區來說明，就我13年的看過的經驗來說，是相當有實力的。

So, I mean housing is booming, technology is booming, commercial real estate is booming, but if you go 150 miles to the east and the south into the central valley,

我是指當那些房地產、科技都在不斷成長時，看看150 哩外在南方與東方的峽谷區中，

you would not see that same strength, because it's based on what ...(so it's fragmented?) so it's fragmented.

你並不會看到相同的成長，因為這是基於.... 所以說它是片段沒有連帶影響的。

But you can't argue with a 5.1% unemployment, consumer confidence's up, autos booming,

但你不能對 5.1% 的失業率、提升的消費者信心提出辯證，

and there's partial economies that are strong. The biggest risk of the US's economy is what's happening outside the US.

此外還有部分的經濟是相當穩固的。美國現今最大的經濟問題，是在美國以外的地區。

And that's something we can't control? Can't control that. Well, where are we in a credit cycle?

這些是我們不能控制的嗎? 我們的確沒辦法！那麼我們究竟在信貸週其中扮演什麼樣的角色呢？

Well, from most of our credit products, we are clearly at the best side. (not in close to the top?) Well, while you call the top... the bottom of losses... the top on quality.

- 我們大多數的信貸商品，某些程度都是所謂好的那種。 - 不是接近頂尖的那種嗎? -這個...你也可以說是損失最少的、品質與保證最好的啦!

And you're through the cycle we should not expect, you know the charge of a 3rd of 1%, which is where Wells Fargo has been the last year, so...

但今日我們面對和預期不同的週期現況，價格相當去年富國銀行 1% 的三分之一。

Where you're gonna be in a year from now?

那你今年將重心放在哪些地區呢?

Well, I don't know. I think you can't ever tell surely the energy area is more challenged today,

這個嗎? 我不能清楚說明，我覺得很難明確的點出哪些地方真的具有潛力的。

but real estate is such a big driver for us that if real estate continues to improve which we expect it will, that's a big driver for our product quality.

但房地產會是主要吸引我們投資的標的，如果他如我們預期地成長，將會對我們的商品品質與信用有很大的助益。