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General News 1/15/2008 at 11:07 PM EST

Greenspan Signs On With Mortgage Profiteer

Quicklink Submitted By Sheila Samples No comments

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Paulson & Co. made a fortune as the mortgage crisis unfolded, and now has hired the man some say caused the meltdown. Alan Greenspan, whose actions as Fed chairman have been under fire lately, has agreed to advise the firm, which saw one fund rise 590% on bearish housing plays and is betting things get worse. Paulson is Greenspan's third advising client, and all three profited from bearish mortgage outlooks.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): Alan Greenspan; Hedge Funds; Mortgage Crisis; Under The Radar; Wall Street, Add Tags

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