Carl Levin actually said...

"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."

"Did you have concerns about the Option ARM?"

"And it was not your job, it was their job, the previous panel's job?"