We would look favorably on additional low-risk, stable revenue, most notably from asset and wealth management fees. At the same time, these efforts carry execution risks. Even if successful, Goldman's mix of revenue may still have greater risk and volatility than that of most peers. We are uncertain whether and when it may also exit its Apple Card program. However, given the challenges and expenses of growing in consumer lending, we view the exit from parts of the consumer business as a prudent move, even if it marks a significant strategic shift. We believe the Trump administration, through leadership appointments to regulatory bodies, may limit the degree to which regulations will tighten. At the same time, we do not expect
