Now, the fraud problem is not limited to Montebello and Downey.
Until then, there was a huge appetite, is that fair to say, for residential mortgages on Wall Street?
So Long Beach was continuing to issue poor quality loans, is that fair to say?
Purchasers of these securities are relying on you as an underwriter to provide truthful information.
And is it true that, as shown in Exhibit 37, at times, 95 percent of WaMu's Option ARM borrowers were making minimum payments, which led to ...
And the audit that you saw when you first got there, that 2006 audit, which is Exhibit 10, was the reason, as I understand it, that you were...
Why were so many Long Beach mortgages defaulted? Why were Long Beach securities consistently among the worst performing in the marketplace?
Wasn't there a recommendation in 2005 to take action against those officers?
No, when there was fraud, what you do is reward the folks that are being investigated with trips.
We are contemplating selling a larger portion of our Option ARMs than we have in the recent past.
How does a bank that turns out loans of which 58 or 62 or 83 percent contain misrepresentations or fraudulent borrower information, how does...