5 ms·

$951M may not seem like a lot of money from a westerner's perceptive - but that is 0.5% of the GDP of Bangladesh. Imagine if close to 1 Trillion $ was stolen f

$951M may not seem like a lot of money from a westerner's perceptive - but that is 0.5% of the GDP of Bangladesh. Imagine if close to 1 Trillion $ was stolen from the Federal Reserve ! Edit - apparently its 85 Billion - not 1 Trillion - pretty embarrassing since I have a degree in maths -> shame .. ding ding .. shame.

musesum 10y ago
All but $81M was recovered.
- MichaelGG 10y ago
  How is it not all recoverable? Are there still banks that are non cooperative?
  - aianus 10y ago
    Maybe they withdrew some of it in cash. I don't see why some foreign bank should be on the hook once the funds have cleared and been withdrawn by the thieves.
    - MichaelGG 10y ago
      Just seems like it'd be hard to make off with significant amounts of cash. They must be really running.
- decimate 10y ago
  Just goes to show, if your highly illegal target is roughly 100 Million, be sure to reach for like ten times that amount and try to grab an absurd 1 Billion.
imglorp 10y ago
Here in the West, we elect our criminals, who use corrupt procurement, bribery, and other frictions to suck many trillions from our GDP. Not to worry, though: the debt payments on this kind of policy will shortly eclipse the thefts and legitimate spending. * http://www.transparency-usa.org/who-we-are/mission-history/ http://www.transparency-usa.org/who-we-are/mission-history/ * http://www.sfgate.com/news/article/Military-waste-under-fire-1-trillion-missing-2616120.php http://www.sfgate.com/news/article/Military-waste-under-fire... * http://cagw.org/media/press-releases/taxpayer-watchdog-identifies-12-trillion- http://cagw.org/media/press-releases/taxpayer-watchdog-ident... federal-government-waste * http://reason.com/blog/2014/12/02/federal-debt-soared-above-18-trillion-la http://reason.com/blog/2014/12/02/federal-debt-soared-above-...
lisper 10y ago
I dunno, I'm a Westerner and $951M still seems like real money to me.
toth 10y ago
0.5% of the GDP of US ($17 trillion) is $85 billion, not 1 trillion. And I don't know many westerners that would say that $951M is not a lot of money :)

musesum 10y ago

All but $81M was recovered.

MichaelGG 10y ago
How is it not all recoverable? Are there still banks that are non cooperative?
- aianus 10y ago
  Maybe they withdrew some of it in cash. I don't see why some foreign bank should be on the hook once the funds have cleared and been withdrawn by the thieves.
  - MichaelGG 10y ago
    Just seems like it'd be hard to make off with significant amounts of cash. They must be really running.
decimate 10y ago
Just goes to show, if your highly illegal target is roughly 100 Million, be sure to reach for like ten times that amount and try to grab an absurd 1 Billion.

imglorp 10y ago

Here in the West, we elect our criminals, who use corrupt procurement, bribery, and other frictions to suck many trillions from our GDP. Not to worry, though: the debt payments on this kind of policy will shortly eclipse the thefts and legitimate spending. * http://www.transparency-usa.org/who-we-are/mission-history/ http://www.transparency-usa.org/who-we-are/mission-history/ * http://www.sfgate.com/news/article/Military-waste-under-fire-1-trillion-missing-2616120.php http://www.sfgate.com/news/article/Military-waste-under-fire... * http://cagw.org/media/press-releases/taxpayer-watchdog-identifies-12-trillion- http://cagw.org/media/press-releases/taxpayer-watchdog-ident... federal-government-waste * http://reason.com/blog/2014/12/02/federal-debt-soared-above-18-trillion-la http://reason.com/blog/2014/12/02/federal-debt-soared-above-...

lisper 10y ago

I dunno, I'm a Westerner and $951M still seems like real money to me.

toth 10y ago

0.5% of the GDP of US ($17 trillion) is $85 billion, not 1 trillion. And I don't know many westerners that would say that $951M is not a lot of money :)