08-22-2017  2:19 am      •     
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AG Rosenblum Announces $192M Settlement for Student Loan Debt

358 Oregonians will get 100 percent loan forgiveness ...

'Chitty Chitty Bang Bang' Screens at New Performing Arts Center, Federal Way

Free screening follows the day after official ribbon cutting of the arts center ...

Join a Book Club at Your Neighborhood Library

At North Portland Library, Pageturners Black Voices focuses on books written by and about African and African American authors ...

Meeting of the NE Community Development Oversight Committee

The fourth meeting will be held on Wednesday, Aug. 23 ...



SEIU’s President: No Place for White Supremacists in the White House

Mary Kay Henry makes following statement on Trump’s remarks after violence in Charlottesville ...

It’s Time to Show “Middle Neighborhoods” Love, Before It’s too Late

Middle Neighborhoods, School Rehabilitation and Food Insecurity are key action items for the policy agenda of the CBC. ...

Despite Unequal Treatment, Black Women Will Rise

NNPA Newswire Columnist Julianne Malveaux talks about Black Women’s Equal Pay Day ...

PCC Cascade President on Free Tuition Program

Any student who qualifies for the Oregon Promise can attend most in-state community colleges tuition-free ...



There are an awful lot of millionaires at the Federal Reserve.

Financial disclosure forms released Tuesday show that all seven current members of the Federal Reserve Board of Governors have assets worth more than $1 million.

Ben Bernanke, the current chairman, might wield more power than his colleagues, but he's at the low end of the wealth list with assets between $1.1 million and $2.3 million. The report shows that Bernanke is carrying a mortgage of between $500,000 and $1,000,000 on his home.

In addition to his government salary, the Fed chief also hauled in some significant income from textbook sales, including more than $100,000 in royalties from publisher McGraw-Hill.

The disclosure forms, posted by the Wall Street Journal, use broad monetary ranges to value assets, making a more precise accounting impossible.

Deputy Janet Yellen, considered a frontrunner to replace Bernanke as the next Fed chairman, has considerably more assets than her boss.

Her disclosure form lists between $4.8 million and $13.2 million of assets. Most are held in a trust held jointly with her husband and Nobel-winning economist George Akerlof. Yellen's portfolio includes retirement accounts and funds from her days at the University of California, in additional to some individual shares in companies like Pfizer and OfficeMax.

The economist also has the quirkiest asset of the group: a stamp collection worth between $15,000 and $50,000.

The collection is not the only oddity reported by Fed officials. Financial statements released from 2010 show Dallas Fed president Richard Fisher owned more than 7,000 acres of land, $1 million in gold and as much as $250,000 in uranium.

The other frontrunner to succeed Bernanke, former Treasury Secretary Larry Summers, has not been required to complete a disclosure form since leaving the government. But the former White House adviser's most recent filing, made in 2009, showed a range of assets worth between $17 million and $39 million, according to Bloomberg.

Jerome Powell, a former private equity heavyweight, appears to have the biggest bankroll of current Fed governors. The former Carlyle Group partner had a top-end estimate of nearly $50 million.

The remaining governors -- Jeremy Stein, Elizabeth Duke, Sarah Bloom Raskin and Daniel Tarullo -- all posted disclosure forms indicating wealth of at least $1 million, but no more than $12 million.

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