Carl Levin actually said...

"In order to generate more sustainable, consistent higher margins within Washington Mutual, the 2005 Strategic Plan calls for a shift in our mix of business, increasing our Credit Risk Tolerance while ..."

"Does that mean higher interest rates?"

"Repeat Issue--Underwriting guidelines established to mitigate the risk of unsound underwriting decisions are not always followed . . . accurate reporting and tracking of exceptions to policy does not ..."

"This internal investigation found that WaMu loans marked as containing fraudulent information were nonetheless being sold to investors."