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To: Alex who wrote (39657)	8/26/1999 7:07:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 116810

Hi Alex, Millionaire Greenspan plays it safe on investments WASHINGTON, Aug 26 (Reuters) - Federal Reserve Chairman Alan Greenspan is known for his cautious style in steering the monetary policy of the world's largest economy, and he also plays it safe when it comes to his personal investments. Greenspan is a multimillionaire who stashes much of his money in extremely low-risk securities backed by Uncle Sam, according financial disclosure records released by the Fed. The 73-year-old Fed chief, who draws a salary of $136,700 annually from his job, listed investments valued in the range of $2.5 million to $6.4 million on his disclosure form for 1998. All of that money was in Treasury bills, and he had no stock holdings. He kept another several hundred thousand dollars in a variety of money-market, savings and checking accounts. Greenspan's net worth could not be determined from the records, which do not include holdings such as a house or other valuables. Skittishness about the stock market is not the reason for Greenspan's extremely conservative investment portfolio, according to his spokesman. The spokesman, Bob Moore, said the chairman prefers to keep his money in Treasuries as opposed to stocks because he wants to avoid any appearance of conflict of interest with his job. Greenspan has been known to send tremors through world financial markets with utterances as brief as ''irrational exuberance.'' Moore said he chooses short-term government securities over long-term ones because they are less sensitive to interest-rate changes. There are some legal restrictions on the types of investments that Greenspan can hold. For example, he is prohibited from owning the stock of depository institutions like banks and thrifts as well as the stock issued by primary dealers of U.S. government bonds. But he is allowed to hold other types of stocks. Moore said Greenspan chooses to go beyond the requirements of the law in his attempts to avoid a conflict of interest. Although Greenspan did not own stocks last year, his wife, NBC-TV correspondent Andrea Mitchell, did hold some. biz.yahoo.com