Greenspan ghost writer gives memoirs 'pace'

Dame Marjorie Scardino, chief executive of Penguin's parent company Pearson, said Monday 31 July that Alan Greenspan had agreed to allow a ghost writer to help to "make [his memoir] more pacey - because Alan is an academic".
Dame Marjorie Scardino, chief executive of Penguin's parent company Pearson, said Monday 31 July that Alan Greenspan had agreed to allow a ghost writer to help to "make [his memoir] more pacey - because Alan is an academic".

According to The Times, Dame Marjorie said, however, that the former US Federal Reserve chairman is proving to be "a diligent author" who will definitely help his publisher make a return on the $8.5 million (£4.5 million) that it spent to secure the rights to produce his memoir.

Dame Marjorie had to personally sign off on the advance - and inform the company's board - because it was so large, The Times said.

Mr Greenspan, who met Dame Marjorie for dinner after Penguin signed him up, has agreed to produce the first and last drafts of the eagerly awaited book. The report said the former Fed chief is apparently "working on the text every day".

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