Were you aware that there was a large growth in the utilization of interest-only loans during that period?

Our investigation has found that investment banks, such as Goldman Sachs, were not market makers helping clients.

It wasn't here. That is all I can tell you.

It was part of the daily workload.

Should collateral that is coming from a company whose collateral in general is not performing so good, should that collateral be treated differently?

You are trying not to answer the question.

Unchecked competition on this basis can place the entire financial system at risk.

February 2007, we need to talk about getting more resources in general.

The answer is here from a supervisor, it doesn't make any difference that their collateral is not performing well.

We saw the beginning of the assault in our first two hearings, which examined how U.S. financial institutions turned to high-risk lending strategies.

the credit rating agencies continued to issue AAA ratings on new subprime RMBS and CDOs in 2007 despite warnings

It mattered to them.

I believe that attention to market share is one thing we must pay attention to in running the business.

And should it affect the credit analysis?

There is a strong internal emphasis on market coverage, yes.

It hasn't been a pretty picture so far and I don't think it is going to improve, although, frankly, the beginning of the Senate debate on strong financial reform next week does give us some hope.

I think the market coverage issue is the more important issue.

So that it should affect it?

Following conversations with banks--where they asked for the removal of somebody from the relationship, did you ever accommodate that?

You just said finally, after the fourth time I asked, it should be looked at differently.

Did investment bankers apply pressure in connection with rating analysts during the rating process?

You don't remember? So you are not denying that happened, is that correct?

IBG-YBG was explained to me to mean, 'I'll be gone, you'll be gone.'

Those toxic mortgages were scooped up by Wall Street firms that bottled them in complex financial instruments.

Were you aware that the FBI in 2006 reported that the number of suspicious activity reports surrounding mortgage fraud rose by 700 percent?