Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

Just responding to President Lacker. I think it would be an insult to these four parties, particularly given the fact that we appear to have negotiated, again, the ability to attach other assets. I am, frankly, surprised that Singaporeans would go along with that. If we got that, I’d use it and pocket it. But I would argue, especially for the case of Mexico, that I don’t see any reason that we should differentiate between them and Canada, for example. It would stigmatize them in a way, and it would be an insult to these people. At the same time, as I think I understand the explanation from Vice Chairman Geithner and from Nathan, we do have some ramped-up security here—so it’s a special arrangement. I think going further than that would not be appropriate.

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