Carl Levin actually said...

To both you, Mr. Malloy and Mr. Ramakrishna, your banks' profits from the options came from financing and transaction fees. Is that correct?

Did the banks, either of your banks, from these tens of millions of trades that were executed every year in your accounts for the option bas...

So of the 15 million trades at your bank, the guidelines did not stop any of those trades.

It is also something they are representing to the SEC that they do not control it.