The September 27-October 3 2010 issue of Bloomberg BusinessWeek has an interesting story titled "Thomas Hoenig is Fed Up."
The story chronicles various views of Thomas Hoenig and how these views differ from those of others prominent within The Federal Reserve.
I found one line, referring to Hoenig's views, particularly noteworthy given current (and likely future) Federal Reserve policies and reactions to them:
"The hard truth, in his view, is that there just isn't much more the Fed can do to help, and we all ought to admit that."
SPX at 1165.15 as this post is written