Carl Levin actually said...

Do you think they know that you think something is a piece of crap when you sell it to them and then bet against it?

And where you take a short position, do you think that should be disclosed? Where you are betting against that same security you are selling...

My problem comes particularly where you are selling a security to someone... and at the same time, you are betting against it.

We have to do a better job of striking the balance between what an informed client believes is important to his or her investing goals and w...