GOOD READS

ATM Receipt With $1 Million Balance Shows Tale Of 2 Cities In New York

OK, so a lot of rich people live in New York.

We know that.

It's not news.

But it hits home in a non-abstract way when, if you're not one of the very rich, it's rubbed in your face at your local bank.

These two ATM receipts were discovered at a local Chase bank by my old colleague Tony Case, the special reports editor at Adweek. He gave me permission to publish his photo of them. They show that someone recently withdrew $300 in cash on a balance of $1 million, just after someone else tried to withdraw $100 on an account that had insufficient funds.

We don't know why one client is a millionaire while the other is broke. The pair may deserve their fates. Or not.

But we do know that extreme, fixed, inequality is a recipe for disaster in a society that claims to be democratic and socially fluid. We'll leave it to you to debate the merits.

Here's the evidence. The pauper and the millionaire at the same ATM:

Chase ATM

Tony Case / Facebook



More From Business Insider

Quiz: How well do you know India's economy?

Question 1

Which of these products is India the world's largest producer of?

Poll Choice Options
  • Wheat
  • Rice
  • Milk
1
2
3
4
5
6
7
8
9
10

Latest News

  • Fed should beef up low-rate vows, two officials say

    FARGO North Dakota/BANGOR Maine (Reuters) - The U.S. Federal Reserve ought not to raise interest rates until the economy is much closer to full strength, two of the Fed's most dovish policymakers said on Tuesday. "If you commit to keeping rates low even as the recovery is proceeding, even as we continue to recover, I think people have a sense, the Fed has the recovery’s back," Minneapolis Federal Reserve Bank President Narayana Kocherlakota said at North Dakota State University. If households …

  • China economic growth slows to 18-month low in Q1

    China's economy grew at its slowest pace in 18 months in the first quarter of 2014, official data showed on Wednesday, with signs of waning momentum already prompting limited government action to steady the world's second-largest economy. Authorities have ruled out major stimulus to fight short-term dips in growth, and some analysts think the economy will continue to lose momentum into the middle of the year. It was China's slowest annual growth since the third quarter of 2012, when growth …

  • Asian shares offer muted cheer to China growth

    Asian share markets were mostly in the black on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China's economy grew 7.4 percent in the first quarter, from a year earlier, pipping forecasts of 7.3 percent. …

  • Nikkei extends gains after Japan Fin Min Aso's comments

    Japan's Nikkei share average extends gains on Wednesday following vague comments from Japanese Finance Minister Taro Aso on the country's $1.26-trillion government pension fund, which traders took to mean ... …

  • China Q1 economic growth slows to 7.4 percent

    China's annual economic growth slowed between January and March 2014 to 7.4 percent from 7.7 percent in the previous three months, but beat market expectations for growth of 7.3 percent, data showed on ... …

IN-DEPTH ANALYSIS & INTERVIEWS

  • This might well be India’s biggest Ponzi scam

    It was just too good to be true. Ashok Khital, 45, displays every symptom of a man who knows he's been conned. …

  • India's star studded football league

    High and mighty including Sachin, Salman & Sun Group buy ISL teams …

  • Leaderspeak with Rajesh Janey

    Rajesh Janey, President - India & SAARC, EMC shares many firsts in his life. …

  • Power Hungry

    Gujarat has power round-the-clock. Most other states do not. Why this will matter in the general elections. …

  • Etcetera

    The most keenly watched contest of the current general election will be the one for the Varanasi parliamentary seat, where the Bharatiya Janata Party's prime ministerial hopeful Narendra Modi squares off ... …

  • Economy vs Democracy

    As the country gets election fever, cash comes out of mattresses and turns into liquor, gifts, and food. But it is not bad for the health of the economy, reports Sarika Malhotra from the trenches. …

  • Bracing for Challenges

    Raghuram Rajan is preparing to deal with concerns that may arise when a new government takes charge. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    98.70-1.40-1.40%
    FRL.BO
    16.45-0.15-0.90%
    UNITECH.BO
    13.60-0.19-1.38%
    SUZLON.BO
    183.20+4.95+2.78%
    CROMPTON.BO
    19.15+0.80+4.36%
    YBRANTDIGI.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    640.25+378.39+144.50%
    EFPL.BO
    145.85+16.45+12.71%
    PANACEABIO.BO
    19.00+1.95+11.44%
    MSPSTEEL.BO
    39.90+3.65+10.07%
    SURYNGRF.BO
    22.00+2.00+10.00%
    MAKERSL.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    -12.07-100.00%
    4THGEN.BO
    -17.30-100.00%
    ALFAICA.BO
    -10.65-100.00%
    BORAX.BO
    -10.50-100.00%
    CITADEL.BO
    -10.11-100.00%
    DHAMPURE.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.