. -- prodi and -- providian.hey approve the buyers would purchase loans were the only payments represented -- these are interest only payment sprit we need to put a stop to this madness. did you know the person who wrote this? did you know that person? >> no. >> this is just an e-mail that you got from somebody? >> i believe so, yes. >> key sure put his finger on -- he should put his finger on wamu. you've raised s&p for reasons that were like this. did you not read it dealing >> yes, we did it in the middle of 2005, what precipitated was that we increased our credit enhancements. >> the subprime was not performing in the first part of 2006. >> it started to perform a little different, but from a delinquency perspective. >> does that mean worse? >> yes. >> these are some of the factors that led to a major model change in july of 2006, according to the testimony that you gave the senate banking committee in april of 2007. this model change resulted in more protection against loss, so-called credit enhancements. th

. -- prodi and -- providian.y approve the buyers would purchase loans were the only payments represented -- these are interest only payment sprit we need to put a stop to this madness. did you know the person who wrote this? did you know that person? >> no. >> this is just an e-mail that you got from somebody? >> i believe so, yes. >> key sure put his finger on -- he should put his finger on wamu. you've raised s&p for reasons that were like this. did you not read it dealing >> yes, we did it in the middle of 2005, what precipitated was that we increased our credit enhancements. >> the subprime was not performing in the first part of 2006. >> it started to perform a little different, but from a delinquency perspective. >> does that mean worse? >> yes. >> these are some of the factors that led to a major model change in july of 2006, according to the testimony that you gave the senate banking committee in april of 2007. this model change resulted in more protection against loss, so-called credit enhancements. they