"The Federal Reserve System fulfills its public mission as an independent entity within government. It is not "owned" by anyone and is not a private, profit-making institution."
http://www.federalreserve.gov/faqs/about_14986.htm The Greenspan quote you are talking about I assume is this:
JIM LEHRER: What is the proper relationship, what should be the proper relationship between a chairman of the Fed and a president of the United States?
ALAN GREENSPAN: Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter. And I've had very good relationships with presidents.
No where did he say private entity. The decisions of the Presidential nominated board can't be blocked by other Government agencies. We have hundreds of Federal run non-profit Government agencies that function under the same system, one example being the post office.
People who claim the Fed is privatized not only reject basic facts but they heave them away with great force.
Fister honest question, do you believe the Libertarian idea that the Illuminati controls the FED? If not them, then what organization do you think has control of this private entity?