Carl Levin actually said...

"What, if any, guidance should be given to institutions by regulators relative to that issue as to putting into the stream of commerce the mortgages which are bad mortgages?"

"So what were you looking at that would not be inside that OTS 2 rating?"

"They can point to them when they come to telling the folks they are supposed to regulate, Hey, this is the law, we are going to enforce it."

"Should it be?"