Carl Levin actually said...

I will correct myself again. I said it was the largest bank failure, and that apparently is true, thrift or otherwise.

Levin acknowledges his earlier statement about Washington Mutual's failure.

04/15/2010

More Carl Levin Quotes

So that was a higher interest rate there, as well?

During these years, WaMu cut back on its loan originations overall, but while cutting back, it also changed the mix from lower- to higher-ri...

The overall system of credit risk management activities and processes exhibits weakness and/or has deficiencies related to multiple business...

Basically they did not want to slow down loan production.