Carl Levin actually said...

Now, as WaMu's condition continued to worsen in the summer of 2008, the FDIC conducted a capital analysis, recommended to OTS that a 4 ratin...

We cannot rely on the regulators. That is obvious from today's hearing, it seems to me.

Do you have a conclusion as to why Washington Mutual failed?

So why wasn't it changed? What were the reasons it was not changed from what you have heard?