Former Fed chairman was nonetheless rejected recently when he tried to refinance his Washington D.C. home

29 Oct

Leading Economic Indicators http://hmark.us/5256047C492 The former chairman of the Federal Reserve Ben Bernanke revealed at an October conference in Chicago that even though his post-government income will be several times what he earned as Fed chairman he was nonetheless rejected recently when he tried to refinance his Washington D.C. home. Mortgage-lending is so highly computerized he was told dictated by formulas that he apparently got caught in an algorithm. Despite a probably seven-figure book contract and six-figure public speeches he is no longer “employed” in a steady job which apparently caused a computer program to signal him as too risky. [New York Times 10-2-2014] Chuck Shepherd

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