The Daily Flashback: Babbling Greenspan Edition

House Attacks Fed, Treasury - WSJ.com: "...In an interview, former Fed Chairman Alan Greenspan said it would be 'a major loss to the country if the Fed were incapable of running an independent monetary policy. If you have the GAO, after the fact, offering its opinions on whether a certain monetary policy action is correct or incorrect, the active deliberations that are so critical to building a meaningful consensus at the FOMC will begin to become unhelpfully cautious...'"