Carl Levin

And you told us that you made that decision early in 2012. Is that correct?

Net new assets also is a key performance measure of the growth of the private bank.

So the people who approved the travel were not rogue, but the people who did travel were rogue.

Now, the bank told us about 150 trips by 10 Swiss bankers to the United States from 2002 to 2008.

But they are not covered. We do not know for sure, do we, that those 14.

This kind of language, this kind of an approach to the process is not consistent, it is not acceptable.

I think you have real problems with your process.

It would give a very different impression visually.

I do not think you can fairly or honestly say that this is irrelevant, this representation to the public.

And where it is different. It is different in a very critical way at a very critical time for your bank.

OK. Well, that is what happened here.

Retroactively. Why did you do that?

Well, we call them 'books.' But we are going to get into this a little bit more.

Is he one of the people you are going to be speaking to as part of that investigation?

To the extent that Swiss law allows you.

Did you find that some Credit Suisse bankers helped refer U.S. customers to intermediaries who advised them to transfer their U.S. assets to foreign shell companies?

And there is also, however, a fear of an indictment, is there not?

So now I want to discuss what actually happened with the regional credit for that net new asset amount from Client 5 in 2012.

It was the failure of the treaty process in UBS to work that led us to use the tools, the threat of indictment, and the John Doe summons request, that led then to the UBS outcome.

What it tells me is the best way to go about it is to build a strong criminal case against the banks in Switzerland who are fostering the tax evasion by U.S. citizens.

You do not want enhanced stories? You want enhanced profits.

Will you get back with us as to what, if anything, you do about it?

Is this the way your bank should operate?

Are you going to change any procedure at all?

I mean, you were very much aware of it, that there was an external released figure that is different from what you were showing internally. Why?