10 Things You Didn't Know About Ben Bernanke

Bernanke has been chairman of the Federal Reserve Board since 2006.

May 25, 2009 RSS Feed Print
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1. Ben Shalom Bernanke was born Dec. 13, 1953, in Augusta, Ga. The family moved to Dillon, S.C., when he was 4 months old.

2. Bernanke's father, Philip, was a partner in a pharmacy; his mother, Edna, was a substitute teacher.

3. Bernanke learned to read in kindergarten and skipped first grade. At age 11, he won the South Carolina state spelling bee.

4. In high school, he taught himself calculus, since his school did not offer the course. He scored a 1590 out of 1600 on the SAT and graduated at the top of his class in 1971.

5. He received his B.A. in economics from Harvard in 1975 and his Ph.D. from the Massachusetts Institute of Technology in 1979.

6. During college breaks, Bernanke worked a variety of jobs, including a summer as a waiter at South of the Border, a Mexican-themed roadside attraction near the border of North and South Carolina.

7. In 1979, Bernanke moved to California, where he taught economics at Stanford while his new wife, Anna, pursued her master's.

8. In 1985, Bernanke moved back east to teach at Princeton; in 1996, he became chairman of the university's economics department.

9. In 2002, he became a Federal Reserve governor. Three years later, he was named chairman of President George W. Bush's Council of Economic Advisers. In February 2006, he became the 14th chairman of the Federal Reserve Board.

10. Bernanke learned Hebrew partly from his grandfather. He officiated at the bar and bat mitzvahs of his children, Joel and Alyssa, without the help of a rabbi.

Sources:

  • The Wall Street Journal
  • The New York Times
  • The Washington Post
  • Christian Science Monitor
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Ben Bernanke

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Such a load of twaddle.

So you sell a share you don't own. Will that drive down the market?

What happens if you buy a share? Will that drive up the market?

What happens if they are matched?

Does betting on a football match affect the result?

Even with naked short selling, the number of shares bought is the same as the number of shares sold.

If you sell a share short, you're going to have to go into the market in a couple of days and buy one. ie. You have to plan to buy a share. How does buying that share drive the price down?

ie. It's twaddle. People are trying to say that the naked seller is a closed system and there are no other parties to the trade. Easy to spot the falacy in that.

So why the fuss? It's mainly governments wanting a distraction from their debt mountains. Why not try and pin the blame on someone else?

Nick of AL 9:56AM September 24, 2010

1. He is an honest man.

2. He is a ethical man.

3. He is a savior. (please see cover of Time Magazine)

4. Our country's sovereignty is intact because of him and his awesome friends.

5. He works long hours, because he cares for America's sovereignty.

6. He once had an awkward moment just to see how it feels.

7. His reputation is expanding faster than the universe.

8. He lives vicariously through himself.

9. He is the most interesting man in the world.

10. He doesn't always drink beer, but when he does, he prefer's Dos Equis. Stay thirsty, my friends. Viva Revolución.

Frank "Ponch" Poncherello of CA 2:36PM December 28, 2009

SEC Attorneys Probed For Insider Trading

CBS News Exclusive: Two High-Level Attorneys Under Scrutiny By FBI

The SEC is under fire once again over two employees who are currently under investigation by the FBI for insider trading. Armen Keteyian reports.

CBS News has learned that two attorneys at the Securities and Exchange Commission (SEC) are under "active" criminal investigation by the FBI for trading stocks based on inside information.

Accusations against the two lawyers - a man and a woman whose names have not been released - are detailed in a report by the SEC inspector general obtained exclusively by CBS News.

The report, based on a review and analysis of "more than two years of e-mail and brokerage records," puts increased pressure on a commission that has come under fire lately for failing to detect the $60 billion Bernard L. Madoff Ponzi scheme, and turning a blind eye to the Wall Street financial crisis.

"We ought to be outraged if there is one insider trading information that’s leading to personal profit," Sen. Charles Grassley, R-Iowa, the ranking member of the Senate Finance Committee, told CBS News.

In response to the IG report, Grassley sent a letter to SEC Chairman Mary Schapiro expressing that outrage and requesting detailed information about the stock holdings and trading practices of all SEC employees.

"It’s hard to imagine a more serious violation of the public trust than for the agency responsible for protecting investors to allow its employees to profit from non-public information about its enforcement activities," Grassley said in his letter to Schapiro.

According to the report, the male attorney under investigation by the FBI works in the Office of the SEC's Chief Counsel and "has access to a tremendous amount of nonpublic information."

The report alleges both the male attorney and female attorney - who works in the enforcement division - "traded in the stock of a large financial services company" despite being told by another SEC employee of ongoing "investigations of that company." The report calls this is a direct violation of SEC rules.

In another possible violation, the male attorney was found to have sent e-mails from his SEC account to his brother and sister-in-law "recommending particular stocks." The attorney’s stock portfolio was estimated at one point to be valued at $200,000.

As for the female attorney, the report states that "two months before an investigation of a large health care company was opened" she "sold all of her shares of stock in the company." And "two days before an inquiry was opened" by a colleague who "occupies the office next to her" the female attorney sold stock in an oil company. Investigators say the female attorney traded stocks 247 times between January 2006 and January 2008. At one point her stock portfolio was valued as high as $170,000

http://www.cbsnews.com/stories/2009/05/14/cbsnews_investigates/main5014672.shtml?source=mostpop_story

CMKX SHAREHOLDER of MS 1:37PM May 26, 2009

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