Carl Levin actually said...

"Your agency had primary responsibility, not FDIC."

"This was not some ordinary institution, by the way. As you know, it is the largest institution that has ever been taken over by FDIC, bank or thrift."

"Was it important in order for you to have a basis that you have access?"

"If an association has a high exposure to credit risk, it is not sufficient to demonstrate that the loans are profitable."