Ben Bernanke - $672K Mortgage Holder, Basketballer, Sebring Driver, Kindle Reader, WWII Expert

Tyler Durden's picture

Just in case the general population was getting accustomed to the image of a demonic creature from the depths of hell every time the name "Chairsatan" was invoked in impolite conversation, here comes Jon Hilsenrath via the WSJ's blog, to attempt to humanize the man who together with 9 other academics who have no real world experience, runs the world out of a private (and locked) conference room in the Marriner Eccles building. So lest someone expect pentagrams to accompany today's FOMC statement, coupled with Bernanke breathing fire and smelling of sulfur at the next Fed conference, here is WSJ's Jon to put a humanly halo around the printer operator himself...

From the WSJ Blog:

Ben Bernanke lives in a three-bedroom, 2,100-square-foot, attached town house near the Capitol. It has an appraised value of roughly $850,000, not far from the $839,000 he paid for it in 2004. A public record search shows he owes $672,000 on the home, after refinancing his mortgage twice.


One refinancing was in late 2009. The other was in late September, shortly after the Fed announced a new program, known as "Operation Twist," which aimed to drive down long-term interest rates.


Mr. Bernanke holds a 30-year mortgage. He was required to send proof of employment, including pay stubs, before the bank approved the loan, according to a person familiar with the matter.


After a decade in Washington, Mr. Bernanke doesn't seem to have been swept up by the nation's capital.


He occasionally shoots baskets in the Fed's dreary, underground gym. The closest he came to showing a wild side was when he was a professor at Princeton: He bought a Chrysler Sebring convertible, according to someone who knows him.


On most nights he's home with his wife, Anna, reading on his Kindle after dinner, say people who know him. In the past 18 months, he has told others, he has read 200 books on the Kindle.

As to what he is reading now...

Lately he's read about pre-World War II Germany, "In the Garden of the Beast," and a room-by-room guide to a 19th-century British home, Bill Bryson's "At Home."

Oddly convenient reading that one would say. We can only hope Benny and the Inkjets do not want to see if they have change history this time around by recreating the identical conditions.

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agent default's picture

You left out moneyprinting champion.

Don Birnam's picture

Hilsenrath: Grand Scribe of the Bernanke Dynasty, and personal biographer of the Imperial Chairman himself.


Precious's picture

He refinanced twice because he had no fucking idea how interest rates are set by the banks. 

Clark Bent's picture

That comment is the summit. 

derek_vineyard's picture

whats the spread and over/under on obama-bernanke game?

firstdivision's picture

Good time to short to go short soon then. I'll capitulate when the bombs drop on Tehran.

On another note, I found it amusing that in Battlefield 3, the Americans invade Tehran.  Also two multiplayer maps takes place in an oil refinery.

TheMerryPrankster's picture

Hitler was nice to his dog. The bird man of Alcatraz was a manslaughter, but he treated his  birds all right.


Pladizow's picture

Goebbels would be jealous!

qussl3's picture

Are we are supposed to believe this tripe?

High Plains Drifter's picture

isn't that sweet.......

midgetrannyporn's picture

The bernank will be sucking dimon and blankfein eternally in hell as it is on earth.

kridkrid's picture

"pre-World War II Germany"????  He should check out "When Money Dies"... SPOILER ALERT!!!!  It'll happen again fairly soon.

DormRoom's picture

why u hate on Bernanke.  He extended the collapse timeframe so smart people could get out of the markets somewhat whole, before it sinks.  If u no get out now, why blame him, when it sinks, and u drown.

margaris's picture

never thought about it this way.

Bernanke the saviour of last resort?





Tsar Pointless's picture

"Lately he's read about pre-World War II Germany"

Good to know and duly noted.

Paul Thomason's picture

 'benny and the inkjets' 'chrysler sebring convertible' - both equally very funny.

SeverinSlade's picture

Wow...Is Mr. Bernanke studying for what comes next?

TheMerryPrankster's picture

"how to prepare man" - it's a cook book. Now on Kindle.

ParkAveFlasher's picture

What's next, a BBQ pulled pork recipe?

g speed's picture

does this mean he is "one of us"?  It sounds a lot like Hitler in his little bunker with Ms Braun living the simple life---

GeneMarchbanks's picture

Underwater probably. No wonder be buys up MBS...

Matt's picture

$850K assesed value, $672K mortgage. As long as home values don't drop, he's fine.

K_I_T_T_Y's picture

Just read an old articlen in german on the , did not know that the Fed was privately owned!

Ratscam's picture

great start!
Might as well look at other sites such as
und interviews from Prof. Hans Bocker on youtube

K_I_T_T_Y's picture

so the shareholders are the private banks... means only banks that theoretically they cannot fail.... just print the money you need!

Even more schocking that they let fail Lehman Brothers because they did not like the arrogance of the CEO....

Ratscam's picture

actually printing money out of thin air, literally. Watch money as debt with german subtitles.


Lehman was compared to the Goldman Sachs gang a fun company with somewhat "nice" sharks. Lehman was the biggest competitor of GS. They could have easily been saved. This was not in the interest of the big ex- Goldman money junkies working in high government positions, Corzine, Tim Geithner, Robert Rubin, Henry Paulson, Lloyd Blankfein, etc.

Here some more corruption handled by the Exchange Stabilisation Fund (ESF)

Jim in MN's picture

It's his goddamn birthday you mean, mean bloggers!

Happy Birthday Mr. Chairman

Hope you get a nice ES quote stuffing lift from your staff and a secret Bahamanian island from the Squid

We'll get back to the pitchforks tomorrow

TheMerryPrankster's picture

They should change his title from Chairman of the Fed, to Janitor. He's still mopping up from Greenspan.

Kids with guns, thats the Fed and we wonder why the economy has so many fatal wounds.

Johnny Dangereaux's picture

My favorite book from "pre-WWii" era is
"The Coming Democracy" by Hermann Fernau
E.F. Dutton 1917

lizzy36's picture

In other words Bernanke is the perfect academic. 

He is not an evil or even a bad man. He is just running an academic experiment, with very real world consequences. Unfortunatley, being an academic, he has no clue how the transmission mechanism for his experiment works.

The problem isn't ben bernanke, the problem is a political process that allows bernanke the freedom to conduct his experiments unimpeded.

jcaz's picture

Truly the definition of "Ivory Tower Economics";

But that's how the job was set up- flawed deal from the start....

Precious's picture

I'd love to see what kind of worthless shit he's reading on the Kindle while America burns.  

Probably some 10th grade economic manga about Soros:

unununium's picture

In the spectrum of monetary academics, Bernanke is the extreme dovish case.

Which is why he was installed.  To serve his purpose, unknowingly, in the grand heist.


Potemkin Village Idiot's picture

The problem isn't ben bernanke, the problem is a political process that allows bernanke the freedom to conduct his experiments unimpeded.

You had me until there...

It's like saying, The PROBLEM with the Cleveland Browns isn't Colt McCoy... It's the fact that his coach Fritz Shurmer keeps starting him every Sunday...

TheMerryPrankster's picture

It chaps my ass, being a lab rat in Professor Bernanke's insane maze.

There is no cheese only pictures of cheese printed on a shitty inkjet printer.

Fiat fucking cheese.

daedon's picture

What is wrong with all of you hasn't anyone read the article, I nearly cried (nearly).


Wonder what Jon Hilsenrath & Nick Timiraos got in return (to keep their jobs ?)

Vagabond's picture

"Benny and the Inkjets"  Boom shakalaka!

Paul Thomason's picture

He obviously didn't buy the premise of lower housing prices - no wonder he wants to keep rates low!  If rates rise he's screwed with that big mortgage!

YesWeKahn's picture

"$672K Mortgage Holder"


I wondered why he was so eager to print and wanted to buy MBS using tax payer's money.

YesWeKahn's picture

" after refinancing his mortgage twice."


He has personal motivation to keep the long term rate low.

YesWeKahn's picture

There is a hyperinflation article, he should read that.

Ocean22's picture

Why would he not pay off his mortgage ? This seems odd

SilverRhino's picture

Because his real wealth is out of the country and in precious metals which are appreciating faster than the interest rate on this mortgage?   I mean damn, he KNOWS what is coming and what he is planning.   Mortgage rate under 10%? leave it running.

TheMerryPrankster's picture

That "underground gym" at the fed building is likely part of a bunker complex where he will be living when the shit hits the fan.

Why pay off the mortgage on a house that will likely be burned to the ground as a cover story surfaces that the Chairman is no longer of this realm.

The whole article on his wholesomeness reeks of mollifying the masses with his "normalness", can't say I've ever seen such a one sided story that wasn't war propaganda.

You like dogs right? Saddam Hussien fucks dog. (stolen from Bill Hicks) told in reverse, you should now love and revere the Bernanke and see him as a mild mannered grandfather type of guy, not the guy that fucked up your future and poured 7.5 trillion u.s. dollars into the too big to fail banks.

Eat your government cheese and be pleased your masters wear such human masks.

This shit is getting surreal.

flacorps's picture

"Our Planet prefers to know Victor Pirolo as a gentle, grey-haired enthusiast who spends his time near Foggia, inventing or creating new breeds of Spanish-Italian olive-trees; but there is another side to his nature - the manufacture of quaint inventions, of which the Victor Pirolo is perhaps, not the least surprising. She and a few score sister-craft of the same type embody his latest ideas. But she is not comfortable. An A.B.C. boat does not take the air with the level-keeled lift of a liner, but shoots up rocket-fashion like the 'aeroplane' of our ancestors, and makes her height at top-speed from the first." - As Easy As ABC, Rudyard Kipling 1912


Global domination ... democracy entombed under propaganda ... commerce replacing politics ... pacification forces skipping from one hotspot to the next ... Kipling saw it all coming a hundred years ago.

Rainman's picture

Academics drown themselves in theory and are notoriously bad with personal unscientific observation of the behavior of personal family members. 

Newton's picture

He just turned 58 today - he must like the idea of paying it off in his 80's. I bet he bolts and moves to a nice island somewhere in Asia sometime before then.