| Maybe he's so rich, he thinks $100 million is chump change. Wall Street tabloid Dealbreaker reported that a hedge-fund manager left his receipt at an ATM in the New York resort village of East Hampton after paying $2.75 to withdraw $400 from an account with a $100 million balance. Interest on a savings account is less than one percent, meaning that the account holder is making virtually nothing on his pot of $100 million. He could get at least 3 percent in a Treasury account. The Capital One Bank ATM receipt was given to Dealbreaker by a Wall Street executive, the New York Post reported, though it's not entirely clear why the executive did so. Dealbreaker also reported that the receipt apparently belongs to hedge-fund manager David Tepper with Appaloosa Management. When contacted by the New York Post, Tepper dismissed the story saying he's too sophisticated a man to leave so much cash in a low-yielding account. The FDIC only insures up to $250,000 per depositer, per insured bank, for each account. So leaving your ATM receipt at a bank at 10:41 p.m. isn't exactly the smartest way to protect your account information, which is something you'd think a smart money manager would already know.
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$100 million savings receipt left in ATM
Unbelievable Ice Sculptures!
The talent in this world is incredible! Check out the scale of these things compared to trees and people in the photos... Photos taken and shared from the incredible ice sculptures submitted at the Fairbanks Ice Festival, Fairbanks, Alaska. There are definitely some "Wows" in these shots! |
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