May 18, 2007

Alan Greenspan turns to consulting

Well according to this report:

Former Federal Reserve chairman Alan Greenspan, whose economic outlook continues to rattle world markets, has inked a consulting deal with Pacific Investment Management Co., the bond management giant.Mr. Greenspan will meet with executives at the Newport Beach, Calif.-based company once each quarter to discuss trends and Federal Reserve policy, according to published reports.

Mr. Greenspan will speak with Pimco executives as often as twice a week via conference call and e-mail.

He will also discuss Federal Reserve interest-rate policy with the firm, with the proviso that those conversations are kept private, according to a Wall Street Journal report.

There are two approaches to being a consultant. One is to get into it when you are young just out of a B School. The other is to build intense expertise over your subject all your life, make a huge dent in the universe and then watch others ask you for expertise. Rudolph Guiliani is also another example.