Carl Levin actually said...

"Should you have told that client--when they asked how are you getting comfortable with this, should you have told them you were going short if you were?"

"Don't you also have a duty to disclose an adverse interest to your client? Do you have that duty?"

"You also took out a short position. Do you know how much you made?"

"So they thought you are on the long side, but not told you are on the short side of the same deal..."