Seen This?

Bernanke's Boyhood Home Foreclosed

Has the financial crisis begun to eat its own tail? According to The Wall Street Journal, Federal Reserve Chairman Ben Bernanke’s boyhood home in Dillon, South Carolina, has been foreclosed. Bernanke sold the property more than a decade ago and, after its owners fell behind on mortgage payments, it was foreclosed and put up for auction. The new owner is Travis Jackson, a loan officer at a local bank. The unemployment rate in Dillon is 14.2 percent, almost twice the national average. In an interview, Bernanke refused to speak about his childhood home. "We believe that getting the credit markets going, getting banks lending again, increasing the demand for all products—including those made in Dillon—are part of economic recovery," he said. "That's what the Fed's trying to do."