Via Freakonomics, and following up on Mark's credit card post from yesterday:
An unidentified computer glitch has led Visa to overcharge several of its cardholders for routine purchases at drug stores, gas stations, and restaurants, to the tune of $23,148,855,308,184,500.00 each. These charges, as far as we can tell, exceed the sum total of wealth accumulated in human history. Affected cardholders were assessed a $15 overdraft fee.
Say it with me, Kim: 23 quadrillion, 148 trillion, 855 billion, 308 million, 184 thousand and 500 dollars. Oh, the "miles"!
A student sent me a link to the same story a day or so ago. Apparently the card is a Visa "Buxx" card (oh, how appropriate!). Some reports state that the overdraft charges will be reversed.
Additional reading here:
http://rss.msnbc.msn.com/id/31915020/
Posted by: Tim Zinnecker | July 17, 2009 at 08:43 AM
Of course, the $23 quadrillion has already been securitized...
Posted by: Mark Weidemaier | July 17, 2009 at 10:26 AM