Carl Levin actually said...

These credit default swaps that you engaged in, these synthetics, in my judgment and I think most people's judgment, do not serve a social purpose.

Levin critiques the social value of credit default swaps.

04/26/2010

More Carl Levin Quotes

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

Should the OCC have been informed about that?

Did you know that these limits were supposed to be reviewed every year?

Thank you.