Re:Companies and Billionaires
by gambiting on Tuesday September 20, 2016 @06:51AM
(#12538489)
No, they were taking a loan from a small local bank and the bank literally didn't have enough money sitting in the account to pay out all of it instantly - they had to ask their other branches to make the transfer to their account first, before they could make the transfer to the account of the seller.
[ Parent
| on HN ]
How much money are we talking about here? It sounds like a lot of money if a bank had to call other banks.
Few million - but it was a small bank. Obviously BoA has that kind of money available at any moment, but that bank didn't. But I imagine even BoA would need a bit of notice if you wanted to pay $250M for a jet.