Greenspan picks a ghost writer

June 6, 2006 at 12:14 PM

NEW YORK, June 6 (UPI) -- Alan Greenspan, the former chairman of the U.S. Federal Reserve, has chosen a business magazine editor to ghost-write his memoirs.

Peter Petre, a senior editor-at-large with Fortune magazine and co-author of best sellers by Gen. H. Norman Schwarzkopf and by Thomas J. Watson Jr., former chairman of IBM, will help Greenspan write his book, which has already been sold for $8.9 million.

Petre, who oversees coverage of information technology, biotechnology, medicine and science for Forbes, is on leave from his employer. Financial arrangement between Greenspan and Petre were not disclosed, The New York Times said Tuesday.

Penguin Press aims to publish Greenspan's memoirs in fall 2007.

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