Ben Bernanke Victimized By Identity Theft Ring

newsweek.com:

If ever there were living proof that identity theft can strike the mighty and powerful as well as hapless consumers, look no further than the nation's chief banker: Ben Bernanke. The Federal Reserve Board chairman was one of hundreds of victims of an elaborate identity-fraud ring, headed by a convicted scam artist known as "Big Head," that stole more than $2.1 million from unsuspecting consumers and at least 10 financial institutions around the country, according to recently filed court records reviewed by NEWSWEEK.

Read the whole story: newsweek.com

Comments

[Chazmania]

Ha OK maybe there is some karma after all!

[beaupritchard]

Ordinary man with ordinary problems with an extraordinary job ... it's a good comfortable image. Bernanke seems like somebody you'd meet in line for a drivers license renewal at the BMV.

The same slight annoyances(like your wifes purse getting stolen) that bother you bother him. I think I've got that same 1963 timex watch,same crumpled shirt he's wearing in blue(I think I use it to mow my lawn ... I know I know there's not a chance in heck Bernanke mows his own lawn but we've got people like that in the neighborhood too).

Yea ... Bernanke's ok ... read his economic book (micro rereading macro I know I know ... I have no life(smile))

[Newsmonger]

This does not seem bad; at least he knows that his banking information have been compromized when someone stole his wife's pocketbook.

He would have done something about it, e.g. calling the bank fraud department, closing accounts, etc.

The identity thevies that hurt badly are the ones, where you did not know that your information have been compromised.

[dinglebe]

The skilled team of crooks that have swindled the Bernankes includes:

Ken Lewis
John Thain
Lloyd Blankfein
Vikram Pandit
Jamie Dimon
John Mack

[NewsG]

If Obama believes in this guy, why not?

[siasina]

This guy is a printing machine! Don't worry about him...he'll be fine.

[DavidATolucaLake]

What a coincidence.

The American public has been victimized by the theft ring known as the Federal Reserve since its inception in secret at Jekyll Island.

Oh that’s right, the Federal Reserve was established to promote STABILITY in the American banking system. How’s that “stability” been working so far??

The only thing stable about the Federal Reserve is the profits it generates for its PRIVATE owners.

Sounds like a kamra sandwich to me. Take a bite Ben.

[xlntcat]

You are misrepresenting the facts. The profits from the Federal Reserve go to the U S Treasury. In December 2008, that the amount was approximately $31 Billion which was down about 2.9 billion from the year before. The Federal Reserve is the bank's bank and they circulate money at a fee known as interest which is returned to the tax payer. They do not give money away to banks to individuals or other financial institution. Any funds pumped into the financial system is withdrawn over time. To my knowledge, the Federal Reserve has never lost money and their profits are always returned at the end of the year to the treasury. The Federal Reserve's problem under the Bush administration was failure to regulate and a lack of authority to regulate newly created financial instruments. Congress has to grant the authority to regulate and bears great responsibility for the financial collapse.

[ohsaydidyousee]

xlntcat, I think you are misrepresenting the facts. The fed reserve in about as federal as federal express. It is a privately owned bank that is owned by international, let me repeat that, INTERNATIONAL bankers who, by the way, set OUR monetary policy. The Fed reserve is a disastrous institution that has been directly involved in virtually every monetary crises this country has experienced since prior 1913. Your right about one thing though. The Fed reserve has never lost a profit. It's the tax payer that's losing money, and is about to lose a lot more. Inflation is directly correlated to the money supply. After all these bailouts...we'll see how much you like the Fed when you need a wheelbarrow full of money to buy a loaf of bread.

[undrgrndgirl]

gee, maybe he now has some inkling of how we the tax payers felt about the bailout(s)...

kharma's a bee-atch..

[loki]

Doesnt matter. He will just get his money back plus 100,000 times what he lost at tax payer expense.
Its a perk of the job.

[xlntcat]

The Federal Reserve to my knowledge throughout its history has never lost tax payer money as it doesn't utilize tax payer money. Even after the Savings and Loan collapse over time the Federal Reserve made back all the money plus a profit. The profit was returned to the U S Treasury. Goldman Saks paid back the $10 Billion TARP plus $2,300,000 in interest, but the funds did not come from the Federal Reserve. They came from the U S Treasury under the legislation passed by congress.

[Spunkstar]

If it happened to him, it can and will happen to you! Now that he knows how it feels, maybe something positive will move in the direction of protecting our privacy.

[We-Are-The-Ones]

You have to protect your own privacy. There are numerous existing federal and state laws that allow you to do so, including a free credit report annually.

[Matt7]

There goes federal intrusion again. Keep your hands off my government-enabled credit report!

[Bushdepression]

"Benjamin Shalom Bernanke" is not a very common name.

[00Ruth7]

Ones of GOP Great Brown Hope is Bobby Jindal.
Jindal went to Brown University and Oxford and believes in creationism.
Probably the brightest dim bulb they have.
I would lose to see the rural republicans vote for a brown guy
(im indian and i hate bobby jindal...i doubt he would even get the brown vote)

[Bushdepression]

That's Brownsville Community College and Oxford, Mississippi, better read
Bobble-head Jindal's biography a little closer.

[00Ruth7]

his Wikipedia says Brown university (ivy) and Oxford (england)

[LadyJune65]

What does race have to do with anything?

[00Ruth7]

Race has to do with a lot of things. Its a fact of life.

[We-Are-The-Ones]

Nothing. Just another brown person who hates another brown person who is successful.

[xlntcat]

He also believes in Voo-doo when convenient to do so.

[myscreennameistoolong]

Good! Too bad they didn't wipe him out like the fed has done to the rest of america.

[LadyJune65]

Give the Fed time, they'll get around to it.

[enoughalready13]

I know ... too bad they didn't rob him and leave him penniless like everyone else.

[xlntcat]

Since the Fed doesn't handle tax payer dollars how did the wipe out America. The GOP congress did not authorized the Federal Reserve to regulate the exotic, newly created financial instruments that wiped out the financial system. Bernanke failed to recognize the problem existed until late in the game but he acted boldly, creatively and innovatively to turn the tide. He is only a very small player in the collapse. If you want to point a finger at a culprit, Alan Greenspan agrees that it was him.

[LadyJune65]

Looks like an indication as to how closely he will manage our money.

[Paros]

This could be a good thing - not for the Bernanke's but for the you and me's of this world. Congress doesn't care if this happens to 10s of 1,000s of us but they don't like it when it happens to one of the DC elite. There is much tightening up that can be done to protect people from identity theft and much to be done to remedy the damage done. Maybe now that the Bernanke's have been bitten, Congress will finally do something to take the extreme pain out of the crime. We can only hope.