I would have to go take a course to learn how to spend $88 billion. http://finance.yahoo.com/banking-budgeting/article/109237/if-you-were-billionaire-for-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." More from WSJ.com: • You Can Buy This 220-Foot Yacht for $1 (or More) • Ranks of Rich Earners Declined 5% in 2008 • Tin-Can Collector Died a Millionaire 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. m
Buy the Houston Rockets. Then, I'd go over the salary cap to buy LeBron & Kobe for the next 4 years, paying the luxury tax with no sweat. And build schools & playgrounds/ parks all around the country.
Ok, depends where you are, 5 hour billionaire can be a real real bad thing, especially in China. A man in Guangzhou has been caught by the police and jailed for life for taking money from a malfunctioning ATM. The machine was actually only deducting 1 yuan from his account for ever 1,000 yuan withdrawn, and over a period of time he withdrew 175,000 yuan. He has appealed against the sentence. This case provoked hot discussion among the media And another Chinese was sentenced to life 8 years before for withdrawing from his malfunctioned ATM account
Use it as collateral and borrow 10 million dollars from the bank. Then use it to fund my own girls gone wild video.
I am actually interested in finding out the legal consequences in the US had this guy withdrawn from his ATM account the money he knows doesn't belong to him. Anyone knows any prior case like this?
Pretty sure it's just another case of unjust enrichment. The remedy is often, if not, always, restitution for these types of cases.
On a contract theory. Interesting . . . Is there a contract term between the bank and the customer that customer may not withdraw the money that doesn't belong to s/he in the account? I don't know. See in China, the bank sued the customer on fraud/theft charges. In the second case I linked, the Chinese kid actually returned all the money right away.
I'd transfer it out to an overseas account, call my boss and tell her milf ass to suck my pee pee and get the hell out of the country.
