Hypo real estate bank accounting error – 55.5 billion euros found

[Edward Dackstone]

At the Euro Zone summit last week in Brussels, leaders agreed on yet another bailout package for Greece. In Germany, there is growing descent among the population regarding the huge sum of money the German government has committed itself to paying out.

A day after the summit decision, The Hypo Real Estate Bank in Germany, discovered an accounting error of 55.5 billion Euros. The bank is now 55.5 billion Euros up, which means German debt is reduced by that amount.

Could there be a connection between these two events?

http://blogs.wsj.com/source/2011/11/01/hypo-real-estate-saga-needs-further-explanation/?mod=google_news_blog

[christian]

This bank is becoming a joke, they allegedly confused a '+' with a '-', not the sharpest tools in the shed, it seems. The 55 billion are only a fraction of Germany's overall debt. There might have been a sinister purpose behind it though, I wouldn't rule that out, I think we will have to get used to the fact, that the schemes, that TPTW employ will appear more and more ineffective and unlogical, they are loosing it.

[RMorgan]

I wish my bank could make such an error with my bank account, so it would go from NN.NNN to N.NNN.NNN.NNN. I would be pretty happy with that! :)

Jokes apart, something doesn´t smell good with this.

Cheers,

Raf.

[shadowstalker]

I find that so called error very interesting

[GlassSteagallfan]

http://www.youtube.com/watch?v=E-G5E3x82S0&feature=player_embedded
http://www.youtube.com/watch?v=E-G5E3x82S0&feature=player_embedded

[meeradas]

This bank is becoming a joke [...]

Right. More, it has been one for quite some time now. Too bad, the joke's on us [still].
Btw, and not to be forgotten: All the muppets in the bank keep their posts, none accountable for the mistake, no personnel consequences whatsoever. Wouldn't make a difference, anyway.
Dream job?
Nightmare.

[Seikou-Kishi]

"Errors" only ever work in their favour. It's like that with anything of the establishment. I read a case where a couple had been under-charged for their council tax and were sent a bill for over a thousand pounds. These were pensioners with little room for manoeuvre in their finances. Of course, the council had made an error and it was this couple's fault. I've never heard of a couple of pensioners receiving a letter from the council saying "It seems we overcharged you in council tax. We absolutely insist you receive this money, or we'll put the matter into the hands of an independent credit agency who will hound you until you accept the money we owe you."

Pfft, to Hell with the lot of them.

[jcocks]

I care little for active participation in this economy anymore....Especially when it's all a house of cards teetering on the brink of coming crashing down in a most spectacular fashion.

[modwiz]

How convenient. "This is a test of the moron testing system, for the next ..........". Yeah right!