Charles Schwab Tries, Probably Fails To Make Citi Feel Better About That Whole Accidentally Sending People Too Much Money Thing
Misery loves company, but is Schwab really all that miserable?
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Misery loves company, but is Schwab really all that miserable?
Citigroup is no doubt still smarting about the whole accidentally-sending-$900-million-to-the-hedge-funds-who-were-already-fighting-us-over-that-$900-million-and-being-unable-to-get-it-back thing. Understandably so. But, look, guys, everyone makes mistakes, as Charles Schwab has very kindly decided to demonstrate, albeit in a couple-of-orders-of-magnitude-smaller sort of way.
It was the type of windfall that investors pine for with every rally on Wall Street: $1,205,619.56 had inexplicably ended up in the brokerage account of a 911 dispatcher in Louisiana in February…. Charles Schwab said that it was supposed to have moved only $82.56 into Ms. Spadoni’s Fidelity Brokerage Services account, but that a software glitch had caused it to mistakenly transfer the seven-figure sum.