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From: BTR1701 <atropos@mac.com>
Newsgroups: rec.arts.tv
Subject: Re: Unheard of: bank makes error in customer's favor
Date: Sat, 1 Mar 2025 18:39:45 -0000 (UTC)
Organization: A noiseless patient Spider
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On Mar 1, 2025 at 7:58:35 AM PST, ""Adam H. Kerman"" <ahk@chinet.com> wrote:

> Somehow, two bank employees at Citigroup charged with reviewing the
> transaction failed to catch the mistake in what was supposed to be a
> transfer of $280 into a client's account in April, 2024.
> 
> The $81tn 'near miss' at Citi
> Plus, BP goes back to basics amid Elliott's pressure campaign and
> ex-Barclays chief Jes Staley wants to clear his name
> Due Diligence daily briefing
> Financial Times
> February 28, 2025
> https://www.ft.com/content/86d7b252-be88-4ddc-a803-f9a94995e158
> 
> Steve Lehto video
> https://www.youtube.com/watch?v=LE62kLLNBxU
> 
> I don't understand how funds were transferred given that the monies
> didn't exist in the first place.

Imagine checking your balance and finding you have $81 trillion in your
checking account. “Wow, my pension COLA really came through!”

I wouldn't take any out so they couldn't accuse me of stealing, but I might
transfer it to my savings account and let it sit there for a while before
reporting it. $81 trillion would generate a nice bit of interest even in just
a day or two...