Good.
Ben Bernanke says that the mortgage market is still so tight that he’s having a hard time refinancing his own home loan, reports Bloomberg..
The former Federal Reserve chairman, speaking at a conference of the National Investment Center for Seniors Housing and Care in Chicago, told moderator Mark Zandi of Moody’s Analytics Inc. -- “just between the two of us” -- that “I recently tried to refinance my mortgage and I was unsuccessful in doing so.”
When the audience laughed, Bernanke said, “I’m not making that up.”
Naturally, he is in favor of the banks pumping even more money into the system.
“I think it’s entirely possible” that lenders “may have gone a little bit too far on mortgage credit conditions,” he said.
Will he bitch about the price inflation when it arrives?
-RW
The only reason for him to have a mortgage given his age and wealth is because he got some sweet insider rate like 0.25%, which of course he's going have a tough time refinancing at a lower rate. Or he is just lying. I think it's the later.
ReplyDeleteAll they do is lie...
DeleteAIG Bailout Trial and Whoppers, Um, Crisis Revisionist History
Various writers that one would not normally expect to be sympathetic to a grasping plutocrat like Greenberg, such as Gretchen Morgenson, Noam Schreiber, and DSWright at Firedoglake, nevertheless relishing the prospect of a Godzilla versus Mothra battle that will expose what happened in the heat of the crisis and why.
But be warned that getting more information does not necessarily mean getting anything approaching transparency. For instance, the depositions of Bernanke, Paulson, and Geithner are all under seal, so details that are potentially important are being kept from public view. The odds are high that the officialdom, both in court and in the media, will try offering more layers of spin.
http://www.nakedcapitalism.com/2014/10/aig-bailout-trial-crisis-revisionist-history.html
From what I briefly read, he got caught up in automated rules due to his recent job change. My guess is he did it on purpose, knowing full well that is exactly what would happen.
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