Posted on 04/29/2013 10:26:31 AM PDT by rightwingintelligentsia
OK, so a lot of rich people live in New York.
We know that.
It's not news.
But it hits home in a non-abstract way when, if you're not one of the very rich, it's rubbed in your face at your local bank.
These two ATM receipts were discovered at a local Chase bank by my old colleague Tony Case, the special reports editor at Adweek. He gave me permission to publish his photo of them. They show that someone recently withdrew $300 in cash on a balance of $1 million, just after someone else tried to withdraw $100 on an account that had insufficient funds.
(Excerpt) Read more at businessinsider.com ...
The guy had a million in a savings account? So what? I used to pick up discarded reciept slips laying around ATMs. I was amazed how many people had only a couple of hundred in the bank.
oh gosh, bollinger with lobster? terrible taste.
1. This is news in NYC? Just walk north on 5th Avenue from 92nd Street and you’ll get the same effect in about 15 blocks. EVERYONE who lives there understands this concept and learns to live with it.
2. Who keeps $1 million in a savings account?
What's this 'Thinly Veiled' bullshit?
FWIW, Snopes disagrees. I don’t trust the Hussein-loving Mikkelsons — at all — but unlike their usual defense ploys for their god (300+ per DAY), this one seems to be plausibly debunked.
http://www.snopes.com/politics/obama/roomservice.asp
You have a point!
This guy and his buddy have serious envy issues.
> Assuming it isn’t a photoshop fake, who would keep that much money in a mostly
> uninsured account and risk being kidnapped for their ATM card?
Chances are that the Adweek special reports editor and Chase conspired to create the ATM receipt for some special report on inequality.
Posted a comment on the article:
“Good old Business Insider.
“Thinly veiled communist propaganda without the thin veil.”
Exactly. That is the real scandal here. You put a million dollars in a bank and they pay you a pittance in interest and then they rub salt in the wound by charging you a fee to transfer money from your savings to your checking account (which costs them nothing).
As for the other receipt, B.F.D. When I was in college a long, long time ago, I can't tell you how many times I got an ATM receipt that told me they couldn't process my request for insufficient funds. The bank is simply letting you know the reason why they can't process your request (as opposed to, say, the ATM being unable to distribute cash).
That Business Insider uses this as an opportunity to comment on social inequality just goes to show that even a "business" publication can demagogue on class warfare just like any anti-business publication.
Why? I think it's foolish to keep large sums of my money in an ATM/debit-card accessible account. If my debit card number is compromised, that's going to be my money that's stolen. Sure I can contest the charges, but until the bank agrees, I don't have my money.
I keep most of my money at arm's reach from my everyday spending account; with online and phone banking I'm just minutes away from getting more money if need be.
This happened to me. I was running a business whereby I needed close to or over a million in cash, but because I missed a mortgage payment and a few other small things - each unnoticed by me - My credit line plummeted to about a thousand bucks. (Which meant in those days I could not rent a car.) Moral? 1. Get an accountant as soon as you can afford to. 2. Banks are not your friends.
I saw that. I don't take cash from my bank's ATM machine very often, but I don't think I pay a fee when I do. At my own bank!
Someone who keeps their real money in solid investments.
You can't buy taste.
I'm surprised she didn't get a nice bottle of Asti-Spumanti.....or, better yet, Moscato.
Though the author would prefer otherwise, my not having a million bucks doesn't make me hate the person who does. Good for them. They must have worked hard to get it, or managed what they were given fairly wisely.
N. Y. Post apologized for publishing that one because it’s fake.
So what? It could be that the millionare is a person that has been working and saving for 30 years and the pauper is a broke college student. This is nothing more than fomenting class warfare.
On the flip side, it is also a reflection of a great country. A country in which the rich and poor mingle in the same area and are most likely not even aware of each other. A country where it is possible for that pauper to become the millionare.
This article should reflect the greatness of this situation, a situation that would not be found in Cuba, North Korea or Venezuala.
So what? Does the media somehow think that it’s wrong for someone to have a million dollars and someone else doesn’t? Rhetorical question - of course they do, unless it’s one of the media or a politicial like that disgusting little Napoleon Bloomaparte
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