Carl Levin actually said...

"Should a CDO which is expected not to perform be given a AAA rating?"

"Would you all agree with that, it would be riskier if there was no verification of income?"

"From my personal perspective, it is something that I would have wanted to know, because it is more of a qualitative not a quantitative assessment if someone who intends the deal to blow up is picking ..."

"Well, that may be what they believed, but I am asking you what should be the case."