April 23rd, 2011
Econintersect: Fat cats are individuals rolling in money, sometimes gotten by not the most socially beneficial methods. India has disovered some fat cats that accumulated more than $220,000 in just a few months. It has been discovered that termites have eaten that amount of money in a northern Indian bank in Barabanki, a town 20 miles southwest of Lucknow, the Uttar Pradesh state capital. The termites pictured are actually from an AP file photo attributed to Thomas Wright/University of Florida. Follow up:
Follow up:The termites in Barabanki are similar, but perhaps more corpulent.
The amount of money that the termites consumed since January is even more impressive in rupees: 10 million. The termites somehow got access to the currency stacked within a locked steel box inside a reinforced vault.
The report states that the bank has had a history of termite damage to furnitur and documents. The bank offiicals have been charged with negligence by authorities.
Hat tip: Naked Capitalism