Carl Levin actually said...

So there is no doubt, since Wentworth is a shell, that if anything goes wrong it is Morgan Stanley that is on the hook.

Levin emphasizes Morgan Stanley's liability due to Wentworth's shell status.

11/19/2014

More Carl Levin Quotes

You intended to keep short positions in all kinds of transactions we went into today.

You don't acknowledge it is big time. You said it was, what, a small net short.

You shut down all residential mortgage warehouses.

The bubble burst in 2007. We are looking at the causes of that bubble bursting.