Patrick Toomey actually said...

"One of the things that concerns me is that the strategy itself is designed, in part, to raise inflation expectations."

"I think when the Fed, indirectly through bank intermediaries, nevertheless directly is effectively purchasing the debt that we are issuing on a massive scale, something on the order of two-thirds of t..."

"I sometimes wonder how much we learned from the recent bubbles, and given the current policy, I worry about whether we are not in the process of creating new ones."

"The market knows the difference between delaying a payment to the guys who cut the grass on the Mall, and failure to make a bond payment."