Ben Bernanke has a mortgage on his home in DC, a domicil valued at $815,000. Bernanke gets $250,000 per speech and just signed a book deal for seven figures. But, he just changed jobs and he was turned down when he tried to refinance! What was the job he formerly had, you might ask. He was the Chairman of the Federal Reserve for America. Yes, it is that Ben Bernanke.
How stupid is this? Is there no human intervention or common sense left at all? Can you imagine anyone who is a better bet to successfully pay his mortgage off in time?
It used to be individuals who had the corner on insanity. Now it is the system.
The sage is impressed with the synchronicity playing out here. And to think that such high profile fellows will know better is a false premise is very refreshing. Schadenfreude?
ReplyDeleteDefinitely a little Schadenfreude!
DeleteI feel Ben Bernanke's pain. When I first applied for a credit card, shortly after Jack' death, it was refused. My bank manager had assured me that there would be no problem, in fact he filled in the forms and I signed on the dotted line. I went back to see the BM with my letter of refusal and he hit the roof. The words he uttered were not prayers for 'the pen pusher' (his words) who signed the letter. He promised to sort it and call me. Two hours later he called with positive news and the card arrived within three days.
ReplyDeleteIn sixteen years, it has been well used for large purchases, yet, I have never gone over the credit limit and clear it every month within or before the settlement date.
Any time they take common sense and a good bet out of the equation, this cr@p happens! And you, GM, are about as close to a sure bet as there is.
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