Ben Bernanke Can't Refinance Because Credit Is Still Ridiculously Tight

Ben Bernanke in Washington on Jan. 16 Photograph by Andrew Harrer/Bloomberg

Things have come to a pretty pass when even Ben Bernanke can’t refinance his mortgage, as he lamented at a conference in Chicago on Thursday. It’s likely that the former chairman of the Federal Reserve can’t refinance his mortgage because most of his income comes from 1099 sources rather than W-2s. Never mind that these are very large 1099s—he gets at least $200,000 per speech, Bloomberg reported last month.

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