In foreclosure, student debt? Bernanke understands … | Bedford Corners Homes

Federal Reserve Chairman Ben Bernanke may catch a lot of flack for his full-speed ahead approach to mortgage-backed securities purchases and low interest rates, but no one can accuse ‘Bernie’ of being out-of-touch with the people, according to Forbes.

A reporter asked Ben Bernanke something rather personal Wednesday. Something along the lines of when was the last time he spoke to a person who is unemployed?

If reporters were looking for Bernanke to come across as an out-of-touch elitist, they missed their chance.

When it comes to personal moments, Bernanke has shown a more humble approach. Afterall, this is a Fed chairman who boasts studying the Great Depression as his key area of economic research.

Bernanke was true to form Wednesday, telling the intrepid reporter that a relative of the chairman’s recently lost his job, and the effect of this is Bernanke’s own boyhood home landed in foreclosure, Forbes reported.

And if you have student loan debt, Bernanke understands. He admitted more than a year ago, that his own son carries about $400,000 in student loan debt from medical school.      

Note to reporters: if you want to grill Bernanke on QE3, housing, Treasury purchases go ahead. But when it comes to slamming him for being out of touch, the Fed Chairman has a penchant for conveying examples of human financial suffering.

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