Where Greenspan Invests
nytimes.com
Q. What does Alan Greenspan do with his money?
A. Richard W. Stevenson, a Washington correspondent who covers the Federal Reserve, responds:
He does not play the stock market.
Mr. Greenspan's financial disclosure statement, last updated less than a year ago, lists income-producing assets valued at $2.26 million to $6.76 million. Nearly all of it was in the form of short-term Treasury bills, with some in cash. Those investments produced income of $169,000 to $532,000 in 1999 (the form requires only ranges for asset values and income). Mr. Greenspan also draws a government salary of $161,200 a year.
Federal Reserve officials said that Mr. Greenspan, like other Fed governors, is technically allowed to own stocks and to trade them, with certain limitations, including a ban on buying and selling in the week before or the day of meetings of the central bank at which it considers changes in interest rates.
But they said Mr. Greenspan had chosen to go beyond the technical restrictions and not invest in anything other than short-term Treasury securities, which are less subject to interest rate variations than longer-term bonds.
He has stocks in the family. His wife, Andrea Mitchell, the NBC News correspondent, holds shares in companies that include Abbott Laboratories, Kimberly Clark and Anheuser-Busch. |
