Carl Levin actually said...

"All right. So that this is wrong, this email is wrong. Is that correct?"

"the bank stopped sending the Investment Bank's daily profit and loss (P&L) data to the OCC."

"the OCC allow optimization one time and then from there on, hey, quit it?"

"The Model Review Group required only limited backtesting of the new model. . . . That is No. 1. It was critical of that limited backtesting."