Less than 10 months ago he was the most powerful banker in the world. He could move markets with a single sigh or a misplaced comma. Now, Ben Bernanke can’t even refinance his mortgage:The former Federal Reserve chairman, speaking at a conference in Chicago yesterday, 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.” “I think it’s entirely possible” that lenders “may have gone a little bit too far on mortgage credit conditions,” he said.
Confusing the matter is the fact that as the former head of the Federal Reserve, he can actually make much more money now than ever before. The trouble may be with the volatility of those earnings. Either that, or he’s late making payments on that Jos. A Bank card.