Carl Levin actually said...

"During these years, WaMu cut back on its loan originations overall, but while cutting back, it also changed the mix from lower- to higher-risk loans."

"The overall system of credit risk management activities and processes exhibits weakness and/or has deficiencies related to multiple business activities."

"Basically they did not want to slow down loan production."

"the major drop which you and others from WaMu refer to came in the fixed, 30-year loans, and that drop took place when you decided to engage in a higher-risk strategy."