Paul S. Sarbanes: “Should we graduate them from the Federal Home Loan Bank System at some point?”

put us on the glide path to dissipate this hard-earned fiscal restraint.

In my view, it portrays clearly unacceptable practices on the part of a number of short-term lenders.

This was a decision by the Bank of Japan, the Government, not by private Japanese investors about the strength of the American economy.

I think the best way to do it is to have a flexible exchange rate, and that will let the market work even more.