Karma is a B*tch, Ben Bernanke: Identity Theft Ring Nails The Bernankes

Thursday, August 27, 2009 , , 0 Comments

When I first heard about this earlier this morning, I couldn't help but laugh. And not just laugh but LOL and hard. Seriously? I am certainly not totally heartless, of course, but struck by the irony of a Fed chair falling victim to the very scheme his own organization warns us about like the boogeyman lying in wait in each of our wallets. Poor Zimbabwe Ben. Or Mrs. Zimbabwe Ben. Whatever.


Fed Chairman Ben Bernanke, the man in charge of the nation's money supply, discovered last summer that even he is not immune to the risk of identity theft.

A thief stole his wife's handbag, taking with it a family checkbook, credit cards and her identification, according to a police report and court documents.

Investigators say they eventually tied the case to a wider scheme of bank fraud that has led to a federal indictment against 22 people. Among them is the suspect in the Bernanke theft, who authorities believe is the man seen in a bank surveillance video trying to use one of the stolen checks to get money from the Bernanke account.

The Federal Reserve Board chairman and his wife, Anna, had to take steps against identity theft after the August 2008 loss, according to Newsweek magazine, which first reported the story Tuesday on its Web page.

Bernanke, through a spokesman at the Federal Reserve, acknowledged the theft and said in a statement provided Thursday to CNN: "Our family was but one of 500 separate instances traced to one crime ring."

The purse was taken in the customer area of a Starbucks coffee shop at Washington's famous Eastern Market.

Metropolitan Police Department records show Anna Bernanke was carrying four credit cards, her driver's license, the checkbook, and a small amount of cash in the handbag. The police officer who took the theft report quoted her as saying the purse was stolen from the back of her chair, and she did not see the theft take place.

According to a criminal complaint filed in October with District of Columbia Superior Court, the suspect, George L. Reid, 41, was involved in a scheme to pass fraudulent checks against multiple bank accounts, including Bernanke's.

I sincerely sympathize for both the Bernankes and any criminal stupid enough to try and pass fake checks in Bernanke's name. Didn't the thief know that only Bernanke himself can perpetuate funny money fraud? Duh!

The original Newsweek article may be found here. But the best part of this entire story is actually this little tidbit: "One of the alleged ringleaders, Clyde Austin Gray Jr., was nicknamed 'Big Head.'"

And that's really all that needs to be said on that.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.