It is impossible to expect that the online consumer today will be the online consumer in the future. We project that occasional traders, people who trade on average less than 10 times per year, are going to be much more the norm, about two-thirds of all traders in 2003. Catering to active traders is a great business. They are wildly profitable. At the big firms that have gone after asset growth, Schwab and Fidelity, asset productivity is very low.
Online trading is fun.
You can make money. Bill payment takes something you hate doing and makes it a little less painful, and that's a tough sale. The world's biggest supermarket. Well, what it really was is the world's biggest communist supermarket. That's the toughest thing for an organization to let go of, to say I can control the customer relationship without controlling all of the assets or liabilities associated with that relationship.