I feel Ben's pain, though I'm pretty sure he didn't feel mine.
Bloomberg reports that even the former Fed Chairman doesn't get a break with the banks:
Ben S. Bernanke said the mortgage market is so tight that even he is having a hard time refinancing his own home loan.
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.
Gee, ya think? Not that it matters to us now...that ship sailed and we weren't on it. Kind of like unemployment running out and the job market shutting out over-50 people.
No tears for Ben here, but it is still wildly ironic.
