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Bernanke's Personal Investments Take Big Hits
Published:
Tuesday, 28 Jul 2009 | 3:56 PM ET
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By: AP
Federal Reserve Chairman Ben Bernanke said his net worth dropped by almost a third last year.
Bernanke said in a financial disclosure form that he owned assets worth between $850,000 and $1.9 million in 2008, down from $1.2 million to $2.5 million in 2007. The Fed chairman, like other top government officials, reports the value of his holdings annually.
The disclosure comes as Bernanke has come under increasing scrutiny from Capitol Hill for his efforts to stimulate the economy by pumping trillions of dollars into the financial sector.
Bernanke, a former economics professor at Princeton University, has most of his wealth in two annuities managed by TIAA-CREF, which provides retirement plans for academic institutions and other nonprofits.
© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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