One last blogpost before Tokyo...

Atrios is right. Harry Reid is right.

Krugman is right.



Greenspan must go. His lack of accountability to his employers- that's you and me- is abominable.

It's time to investigate him.

Yglesias is wrong: Look at the 1990s. How many people were caused undue hardship because Greenspan didn't lower rates quickly; it had become conventional wisdom that "unemployment couldn't get lower than 7%" because of Greenspan's nonsense.

Euphoric memory must always be considered when assessing things like politicians' or Fed charimens' records.

Update: Wolcott agrees too; I think when you add up the things that Greenspan has botched, and the disastrous policies he's advocated it's a good thing he's not a Maoist.