Carl Levin actually said...

"if there were no rate differential between long-term and short-term capital gains, the Tax Code would be far simpler, far more certain, and far more fair."

"You do not say for trading activities. You just say they are not controlled."

"But the point is this structure that you created after RenTec asked you to offer them a structure, this was targeted at RenTec, and you were aware of the fact that it would provide an after-tax benefi..."

"I would hope that that would be taken seriously, but here is what happened: For 2 years, you continued to sell these basket options."