Posted February. 16, 2009 03:46,
The childhood home of U.S. Federal Reserve Board Chairman Ben Bernanke has been sold in a foreclosure sale.
According to the Wall Street Journal, Bernankes old house in Dillon, South Carolina, where he was born and spent his childhood, was recently sold for 83,000 U.S. dollars after foreclosure. The former owner of the house fell behind on mortgage payments last year.
Bernanke is not directly related to the sale since his family sold it more than a decade ago. In an interview, Bernanke declined to speak publicly about the sale of the home, which was largely decided by the economic slowdown.
He said, "We believe 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. That`s what the Fed`s trying to do."