Lawrence Lindsey

Again, what I think we should do is for this Committee to establish the guidelines; that decision should be made here [today] because we're being gamed very much the way the European central banks were being gamed. With each major statistic that comes out, people take sides: [people talk about] the possibility that someone may have some inside knowledge or rumors spread that someone has it and that's going to affect Fed actions; that is what is driving markets.  Frankly, I think that's increasing the instability in the markets. And the way to restore stability to the markets in part is to have this body make decisions and have a fixed date rather than an effectively random date for taking actions.   

The political temptation to try to solve economic problems with the printing press is probably as old as government, but it simply does not work. And bad as it is for the economy at large, it is a disaster for the stability required for financing homeownership opportunities to those on the first rung of the economic ladder.