Alan Greenspan to Join Hedge Fund

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Alan Greenspan to Join Hedge Fund

By Reuters
2008-01-15

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Hedge fund manager John Paulson, who earned billions of dollars last year by betting against the housing market, said that former Federal Reserve board chairman Alan Greenspan will advise his firm.

BOSTON—Hedge fund manager John Paulson, who earned billions of dollars last year by betting against the housing market, said on Tuesday that former Federal Reserve board chairman Alan Greenspan will advise his firm.

Greenspan, whose words can still move financial markets, will advise Paulson on the global economy for an undisclosed amount of money, the hedge fund said in a statement.

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By joining the New York-based fund, Greenspan becomes the latest former Washington insider to work in the fast growing $2 trillion hedge fund industry. Former Treasury Secretaries Lawrence Summers and John Snow provide advice to D.E. Shaw and Cerberus.

(Reporting by Svea Herbst-Bayliss; Editing by Derek Caney)

Copyright Reuters 2007. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks or trademarks of the Reuters group of companies around the world.

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