Welcome, Guest
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Man Discovers $88 Billion Dollars In His Bank Account « previous next »
Page: 1

DynaMike Glennon

*****
Pro Bowler

Posts : 1689
Offline
: April 03, 2010, 04:20:03 PM

by Robert Frank
Thursday, April 1, 2010
provided by



If You Were A Billionaire for 5 Hours
AP Photo/John Bazemore

When Paul Fischer checked his bank account Friday night, he had a happy surprise. His balance had exploded to $88,888,888,888.88. A very lucky number indeed, and close to $89 billion.
Of course, the balance was a technical error by SunTrust Bank (NYSE: STI - News), which quickly fixed the problem. It also may have occurred in other accounts.
"You say, 'Eighty-eight billion, what can I do with that?'" said Mr. Fischer, who owns a jewelry concessionaire for Florida theme parks. "Maybe a handful of us could have brought down SunTrust Bank."
More from WSJ.com:
Mr. Fischer had other ideas as well. Before the problem was fixed, he asked a SunTrust rep if he could move the money to an interest-bearing account until it was reclaimed and donate the interest to charity. Total interest: more than $7.3 million.
The bank said no.
The money was stripped out of his account by Saturday morning.
"It's all gone. I'm poor again," he said. "I was a billionaire for five hours."
This kind of bank error happens frequently. But Mr. Fischer raises an interesting question: What if, for five hours, you truly did have $89 billion?
What would you do with the money? The ground rules are that you would have to give the money back — and whatever you bought or invested with it — after five hours.

BucFan9720

*
Practice Squad

Posts : 0
Offline
#1 : April 03, 2010, 04:25:02 PM

I'd be on a yacht with the finest women in the world and all my close friends with several cases of 1000 dollar bottles of champagne.

Badabing

******
Hall of Famer

Posts : 7076
Offline
#2 : April 03, 2010, 04:27:02 PM

i would take the Democrat approach and say that the money is mine and sue the bank for "pain and suffering" since they made the mistake and I have a right to that 89 billion dollars.

DynaMike Glennon

*****
Pro Bowler

Posts : 1689
Offline
#3 : April 03, 2010, 04:52:08 PM

I got a great idea! I would buy myself my own Country and become a Dictator, than declare war on the U.S. That way, when they come and bomb me, they would pay me 100's of billions of dollars to rebuild it. I would make a huge profit! Seems to work well for past Dictators.



Guest
#4 : April 03, 2010, 05:07:58 PM

lol. I wouldve taken out as much as possible and fled to mexico.

John Galt?

*
Hall of Famer
******
Posts : 18831
Offline
#5 : April 03, 2010, 06:06:11 PM

What if, for five hours, you truly did have $89 billion?
What would you do with the money? The ground rules are that you would have to give the money back — and whatever you bought or invested with it — after five hours.



Since I have to give back all $89 Billion, I wouldn't Buy anything. I would use the funds as collateral to SELL short, as much STI as possible, then announce to the press the error and tell everyone that I had already wired several billion of it out of the country. The trick would be buying back all that stock before Sun Trust announced that I hadn't wired anything.

Now the question is: is it "material inside information" if the information is "purposefully not true"? I'd have to make sure the "wiring several billion out" part was a rumor.


Boid Fink

*
Hall of Famer
******
Posts : 53748
Offline
#6 : April 04, 2010, 02:21:03 AM

I would buy the Bucs.


Doug09

******
Hall of Famer

Posts : 2463
Offline
#7 : April 04, 2010, 08:38:51 AM

I would buy the Bucs.

I'd buy the Bucs, Saints, Panthers, and Falcons.

I would then resell the Saints, Panthers, and Falcons to the Glazers.



Tampa Bay Todd

******
Hall of Famer

Posts : 9381
Offline
#8 : April 04, 2010, 10:57:46 AM

I'd buy one season ticket for the Bucs, but then I'd need to float a loan to pay for parking and a couple beers. :)


SarasotaBuc Fan

*
Hall of Famer
******
Posts : 4021
Offline
#9 : April 04, 2010, 03:22:42 PM

I would buy the Bucs.

I'd buy the Bucs, Saints, Panthers, and Falcons.

I would then resell the Saints, Panthers, and Falcons to the Glazers.



nice




Guest
#10 : April 04, 2010, 04:58:27 PM

I would buy the Bucs.

I'd buy the Bucs, Saints, Panthers, and Falcons.

I would then resell the Saints, Panthers, and Falcons to the Glazers.


But after the money was taken back, you'd be as broke as the Glazers anyways.

spartan

*
Hall of Famer
******
Posts : 7033
Offline
#11 : April 04, 2010, 05:40:10 PM

How's about internet banking? Transfer everything to your savings account, leave it for 2 days, transfer it back and see what happens.

John Galt?

*
Hall of Famer
******
Posts : 18831
Offline
#12 : April 04, 2010, 08:58:15 PM

How's about internet banking? Transfer everything to your savings account, leave it for 2 days, transfer it back and see what happens.


You only get five hours.

If it was 2 days you could do all kinds of things, but 5 hours really reduces your options to nil. Most branches don't even have that much cash on hand, maybe $50k-100k rarely much over a million. And most large transactions, including wire transfers, cashier's checks over a certain size, etc. require multiple bank employee approvals which would cause someone to go "whoa there Nellie".




Guest
#13 : April 05, 2010, 12:45:15 AM

How's about internet banking? Transfer everything to your savings account, leave it for 2 days, transfer it back and see what happens.


You only get five hours.

If it was 2 days you could do all kinds of things, but 5 hours really reduces your options to nil. Most branches don't even have that much cash on hand, maybe $50k-100k rarely much over a million. And most large transactions, including wire transfers, cashier's checks over a certain size, etc. require multiple bank employee approvals which would cause someone to go "whoa there Nellie".
Plenty of cash to pay them off
Page: 1
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Man Discovers $88 Billion Dollars In His Bank Account « previous next »
:

Hide Tools Show Tools