"There are many things we can do," Mr. Baker added.

In his speech, Mr. Baker added a new dimension to the process.

"You have nothing to say in the process," Mr. Baker added.

And taking the initiative on the port security issue, Mr. Baker added, may have been the beginning of that.

Mr. Baker paused and added, "I agree with that of course."

"The word manipulative comes up most in my mind," Mr. Baker added.

To be sure, Mr. Baker added, not everything was right with the world.

Mr. Baker added that the firm was cooperating with all investigations.

"We're talking about a resolution that would lay the political foundation for a possible use of force," Mr. Baker added.

Mr. Baker added that the firm's liquidity continued to be strong.