Greenspan joins NYC hedge fund

Former longtime Federal Reserve Chairman Alan Greenspan has joined the advisory board at Paulson & Co., a New York City-based hedge fund. The hedge fund is known for profiting from the subprime-credit crunch by accurately anticipating a national drop in housing prices, according to published reports. In his new role, Mr. Greenspan will provide ongoing advice to the hedge fund’s investment management team. Mr. Greenspan’s guidance will be exclusive during his tenure at the Manhattan investment management firm, according to a statement released by Paulson. “Dr. Greenspan’s position as Chairman of the Federal Reserve Board for 18 years, through multiple market cycles gives him a unique perspective from which to help our investment management team make critical decisions,” said John Paulson, president of the hedge fund founded in 1994. “I look forward to adding my perspective on the global economy to that of Mr. Paulson and his team,” said Mr. Greenspan, who served as Federal Reserve Chairman from 1987 to 2006. Financial terms of Greenspan’s deal were not disclosed.