Carl Levin actually said...

"Should we legislate? I am tempted, frankly--and I may do it--to just ban negatively amortizing loans."

"Just to make sure I understand that, that is why--what you just said is the access to their information was more critical."

"Now, it was the Option ARM loans in 2008 that was one of the major reasons that investors and depositors pulled their money from the bank."

"This is the second in a series of four Subcommittee hearings examining some of the causes and consequences of the 2008 financial crisis."