Fed Friday: Ben Bernanke targeted by an ID theft ring

It is with no small amount of schadenfreude that I report that our esteemed and despised Central Banker, Ben Bernanke has apparently become entangled in an elaborate identity-theft scheme after his wife’s purse was stolen containing a checkbook from their joint account. The story was broken by Newsweek on Wednesday and they’re claiming that the Bernankes were not specifically targeted. (It’s only a coincidence. It’s only a coincidence. It’s only a coincidence!) But I’m not so sure.

Last August Anna Bernanke’s purse was stolen off the back her chair at a Starbucks near the couple’s Capital Hill home. The purse contained her Social Security card (which you’re not supposed to carry with you), credit cards, diver’s license and a checkbook from the couple’s joint Wachovia checking account (I’m guessing Wachovia gets a bailout whenever they want). Printed on the checks was the Bernankes’ account number, home address and phone number. The thief began issuing checks from the family’s bank account within 6 days.

This wasn’t just a case of an opportunistic purse snatcher. This was part of a sophisticated nation-wide crime syndicate that was operating in Washington D.C. and major cities in Maryland, Virginia, Illinois and others. Federal agents in several states had been investigating them for months. According to court documents, the identity fraud ring stole over $2.1 million from at least 10 different financial institutions around the country.

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