Carl Levin actually said...

"You intended to keep short positions in all kinds of transactions we went into today."

"And where you take a short position, do you think that should be disclosed? Where you are betting against that same security you are selling--yes or no, do you think that ought to be disclosed or not?"

"Do you think they know that you think something is a piece of crap when you sell it to them and then bet against it?"

"Your clients' interests always come first, and they don't."