Carl Levin actually said...

"Well, these words are the benefit of hindsight. Given what you knew then, should you not have taken enforcement action?"

"No."

"The Subcommittee investigation found that in some instances, the conclusion memos of exams at HBUS were a lot stronger than the supervisory letters that were sent to the bank."

"The oversight function is critically important and that is our responsibility, to bring about accountability through oversight."