Greenspan joins NY hedge fund

[flashl]

Alan Greenspan, the former chairman of the US Federal Reserve, is to become an adviser to Paulson & Co, the $28bn New York-based hedge fund company that achieved spectacular investment returns at the height of the credit squeeze last year.

Mr Greenspan will join the advisory board of the credit specialist investment house. Paulson will be the only hedge fund that Mr Greenspan will work with under the terms of the agreement.

Paulson was propelled into the spotlight last year as perhaps the biggest known winner in making aggressive bets against US subprime home loans. Investors estimate that its funds racked up profits of $12bn.

Mr Greenspan already holds separate advisory roles with Deutsche Bank and Pimco, the asset management firm. The financial terms of the arrangement were not disclosed.

FT.com

[lapfog_1]

1. I love companies that make profits based on the misery of others.

:sarcasm:

[groovedaddy]

2. Now that he gave such great advice on sub-prime mortgages

I guess it's time to "cash in!"

[Warpy]

3. Greenspan joins a Ponzi scheme

just before it's all about to collapse. How very fitting.

[Dover]

4. Hedge funds are the real culprit of the economic collapse. Not subprime..n/t