provided by
 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: • 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.
| ADVERTISEMENT |
See today's average rates across the country.
| Loan Type | Today | Last Week |
|---|---|---|
| 30 Year Fixed | 5.12% | 5.07% |
| 15 Year Fixed | 4.36% | 4.40% |
| 1 Year ARM | 3.23% | 3.19% |
| 30 Year Fixed Jumbo | 5.83% | 5.82% |
| 5/1 ARM | 3.95% | 3.95% |
| 3/1 ARM | 4.37% | 4.40% |
| Loan Type | Today | Last Week |
|---|---|---|
| $30K Home Equity Loan | 7.71% | 7.80% |
| $50K Home Equity Loan | 7.57% | 7.68% |
| $75K Home Equity Loan | 7.59% | 7.70% |
| $30K HELOC | 5.11% | 5.12% |
| $50K HELOC | 4.80% | 4.82% |
| $75K HELOC | 4.80% | 4.82% |
| Loan Type | Today | Last Week |
|---|---|---|
| 36 Month New Car Loan | 6.43% | 6.39% |
| 48 Month New Car Loan | 6.48% | 6.50% |
| 60 Month New Car Loan | 6.54% | 6.55% |
| 72 Month New Car Loan | 4.65% | 4.65% |
| 36 Month Used Car Loan | 6.87% | 6.84% |
| 48 Month Used Car Loan | 6.57% | 6.63% |
| Card Type | Today | Last Week |
|---|---|---|
| Low Interest Credit Cards | 12.24% | 12.24% |
| Cash Back Credit Cards | 12.53% | 12.53% |
| Balance Transfer Credit Cards | 12.77% | 12.77% |
| Business Credit Cards | 13.06% | 13.06% |
| Student Credit Cards | 14.10% | 14.10% |
| Airline Credit Cards | 14.43% | 14.43% |
| ADVERTISEMENT |
Copyright © 2010 Yahoo! Inc. All rights reserved. | Copyright/IPPolicy | Terms of Service | Help | Send Feedback
NOTICE: We collect personal information on this site. To learn more about how we use your information, see our Privacy Policy | About Our Ads
Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.
Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.
