Bernanke got poorer in the market meltdown. As Bloomberg reports, the former economics professor's assets fell 29% last year as the financial crisis eroded the value of his assets. Or did they really go down?
Bloomberg reports: "The filings, released by the Fed yesterday, show Ben Bernanke and his family owned $852,000 to $1.9 million in financial assets in 2008, down from $1.2 million to $2.5 million in 2007."
Now, that's a big range. Whether his value went up or down depends which end you look at.
As Moe Tkacik in the Clusterstock blog says, it's anyone's guess. "We know the value of his Large Cap variable rate annunity fell to between $250,000 and $500,000 from between $500,000 and $1 million the year earlier. But we also know that he earned between $100,000 and $1 million in royalties from the sales of one of his books, up from between $50,000 and $100,000 the year before."
Sure, the filing has been released to show
Bernanke is doing it hard like everyone else. But a bit more transparency would make that more credible. It's better to nominate a figure rather than give a vague range.
no comment untill now