Wachovia Bank Tells Man He Owes $211 Trillion

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Schuyler Colfax
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Wachovia Bank Tells Man He Owes $211 Trillion

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http://www.wsbtv.com/news/14740712/detail.html
COBB COUNTY, Ga. -- It’s one thing to bounce a check and it’s another to be so far in the red Bill Gates, Warren Buffet and Donald Trump combined couldn’t come close to bailing you out. A Cobb County man got a letter from his bank with that very shocking news.

“And I open up the letter and I look at it and I’m like, ‘No, you’ve got to be kidding me,’ said Joe Martins.

Martins said he recently closed an account at Wachovia Bank and made good on an outstanding check. He just got a letter about the closure and his negative balance -- $211,010,028,257,303.00. That’s $211 trillion.

The letter includes the clarification, “no cents.”

“I didn’t know what to think. Obviously $211 trillion is a little above what I put in my bank account,” said Martins.

$211 trillion is more than 70 times the entire federal budget.

Still, the letter said Wachovia was reporting him to an agency that rates risky bank customers.

“I don’t own $211 trillion but because it is automated and reported to check systems, I assume it will be reported to my credit at some point,” said Martins.

He said Wachovia had made mistakes on his accounts before so he called Channel 2 first. Wachovia blamed the letter on a word processing error and the office of the president is sending a letter of apology.

“They tell me it’s going to be resolved but I’m not sure that it will,” said Martins. “I closed my account today.”

Since it is a closed account it is now safe to say the dollar figure in the letter matched the account number.

Martins said Wachovia told him late Friday afternoon they never did report him for his negative balance. Wachovia vice president David Oliver told Channel 2, “We can certainly understand how our recent correspondence with Mr. Martins about his account would be cause for great concern. I can confirm that there will be no adverse effect on Mr. Martins’ credit report related to the letter he received. Also, I can confirm that this was an isolated error specifically related to his account.”
HOLY CRAP :shock:
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Post by Thag »

Maybe he did a dine & dash at Milliways.....
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Post by andrewgpaul »

This bit: "He said Wachovia had made mistakes on his accounts before so he called Channel 2 first." doesn't make sense to me. He had issues with his bank account, so the first people he called were ... the news channel?
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Post by Tribun »

andrewgpaul wrote:This bit: "He said Wachovia had made mistakes on his accounts before so he called Channel 2 first." doesn't make sense to me. He had issues with his bank account, so the first people he called were ... the news channel?
I guess they meant he had went through "problem=>call the bank" before already several times, got tired of it, and instead decided to nail them on the media cross for this fuck-up that ended is patience with them.
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Post by Soontir C'boath »

There are news stations which have a segment devoted to reporting problems with local businesses called in by viewers.
Since it is a closed account it is now safe to say the dollar figure in the letter matched the account number.
Wow, what a ridiculous mistake to make.
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Post by Admiral Valdemar »

I noticed this week that Zimbabwe's annual government budget for FY08 is around Z$311 trillion. So that's about £2.50.
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Post by Enigma »

So that is how Bush is trying to get rid of the nation's debt. :)
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Post by Patrick Degan »

Hmm... Wachovia must have adopted the New Math in its accounting department.
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Post by Phantasee »

Admiral Valdemar wrote:I noticed this week that Zimbabwe's annual government budget for FY08 is around Z$311 trillion. So that's about £2.50.
It's only $10.5 billion CDN, actually. Which is still really pathetic.
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Post by Elfdart »

He should have sent them a letter asking if his overdraft protection would cover it.
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Post by General Deathdealer »

The bankers were probably the same people on this video.

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Post by Sriad »

He should have gone with it for a while. Can you imagine the collection agency calls?

"Mr. Martins, Wachovia DEMANDS the immediate repayment of the last seven years of Earth's combined economic activity. If an initial payment of 5% ($10,550,501,412,865.15) is not received by January 4th 2008, we will be forced to initiate legal proceedings."
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Re: Wachovia Bank Tells Man He Owes $211 Trillion

Post by Xisiqomelir »

Elite Pwnage wrote:He said Wachovia had made mistakes on his accounts before so he called Channel 2 first.
This is the correct move these days. Companies are more than happy to leave things be and stonewall, and it takes public excoriation to make them do the right thing.
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Post by Gil Hamilton »

I know that it was pretty obviously the result of a bank teller putting his bank number in the wrong form and the automated system sending out a warning, but I can't help but wonder if Wachovia is secretly run by this fellow.

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