India: Termites become Fat Cats

April 23rd, 2011
in econ_news

termites 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:

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. 

Source:  The Christian Science Monitor (from Assoicated Press)

Hat tip:  Naked Capitalism   

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