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If You Were a Billionaire for Five Hours?

submitted on April 1, 2010 by WhattaDealBlog in "Member's Lounge"
http://finance.yahoo.com/banki.....five-hours

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."

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.


Here is my answer...
 

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  • 57669
    WhattaDealBlog
    professor
    1
    1
    Posted by WhattaDealBlog on April 1, 2010
    [reply] 2 0
    Story reminds me of this story from last year...

    http://news.bbc.co.uk/2/hi/asi.....060681.stm

    Police in New Zealand are searching for a couple who disappeared after a banking blunder deposited NZ$10m (£3.9m, US$6m) in their account.
  • 57672
    HouTex
    admin
    Posted by HouTex on April 1, 2010
    [reply] 2 0
    This sounds like the story of the Hickman family of Chesterfield, Va., who found and reported an extra $88 billion in their account earlier this week. Same bank, SunTrust, and they froze the account so that the couple could not even use the $150 of their own money that was in the account before the error.

    http://www.nbcwashington.com/n.....94787.html

    Either the stories are bogus, or this bank really has problems....
  • 57698
    outcastplo313
    professor
    1
    Posted by outcastplo313 on April 1, 2010
    [reply] 2 0
    interesting story
    maybe i could have read it all if there weren't balloons flying all over the place Big Grin
  • 57707
    Solstice
    professor
    1 6 2
    11 4 1
    Posted by Solstice on April 2, 2010
    [reply] 2 0
    After careful analysis I have determined the average cost of one gummy bear is 0.15 cents.

    This means you could purchase approximately 592,600,000,000 give or take a couple of hundred thousand gummy bears once you figure in tax and expedited emergency shipping.

    Now, here is where it gets interesting...

    Leave enough cash left over to purchase various shipping transit services on cargo planes.

    Arrange for secretive, preferably nighttime, flights to agrarian locations in the Midwest.

    While flying overhead , have the gummy bears released over remote rural farms.

    Blame aliens. Big Grin

      57719
    • WhattaDealBlog
      professor
      1
      1
      Posted by WhattaDealBlog on April 2, 2010
      [reply] 1 0
      Interesting idea, however I would go another way.

      You have Grant Imahara build a giant gummy bear robot with a clear polycarbonate skeletal structure. So that it looks like it is just a standard although giant gummy bear. Keep gummy bear in super secret hiding place wait for a parade of sort (hopefully nationally televised) find the best float it would fit in on, and while that float is on TV have the gummy bear come to life hop off float and run away through the crowd.

      Quickly eat the evidence. Eeek
  • 57721
    shawndiaz
    beginner
    1
    Posted by shawndiaz on April 2, 2010
    [reply] 6 0
    You knew it was coming when you start on the Gummy Bear discussion...Hence, you have been warned Amused

      57722
    • Solstice
      professor
      1 6 2
      11 4 1
      Posted by Solstice on April 2, 2010
      [reply] 1 0
      LOL! I almost posted it myself, but I did not want to make anyone's ears hemorrhage. Amused

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