Please create an account to participate in the Slashdot moderation system


Forgot your password?

+ - Who has my money when its "in transit"?

Submitted by Johnny_Longtorso
Johnny_Longtorso writes: I'm not a "high roller" when it comes to finance by any means. I recently decided to sell some stock granted to me through my employer and opted to have my brokerage transfer the funds to my bank.

The transaction from the brokerage said that the funds were deducted immediately from my account, which was easily verifiable. It also stated that it would take 3 days for the funds to show up in my bank account — equally easy to verify as that's how long it took.

So — in those 3 days, who had my money (presumably earning interest on it)? While my transaction wasn't huge, multiply it by a few hundred thousand transactions a day and it's likely a pretty huge sum.

Bonus ask — when I can compose an email and have it traverse the globe in a matter of seconds, why is it banking of any form still takes an eternity? I hold an account at BoA and they state some transactions can take up to 8 days. This seems insanely long. In my mind it's simply because banks use this "float time" to make massive wads of cash for doing absolutely nothing.

Comment: Re:Months to prep for a keynote? (Score 0) 320

by Johnny_Longtorso (#26331455) Attached to: Steve Jobs Issues Update On His Health

10 or a million, it's the same content douchebag. Public speaking is a forte of those in this position and while it takes some work, "months" is insane, not to mention sacrificing personal health and holidays with family. All I'm saying he's not demoing table-top fusion that he needs to write a masters thesis on, they're refreshes of flippin' iPods and PeeCees that he sells to the masses that, in general, would buy his feces in a bag if he offered it up.

And I got modded troll - for a brief instant in time I forgot why I never post up here....

Comment: Months to prep for a keynote? (Score 0, Troll) 320

by Johnny_Longtorso (#26330125) Attached to: Steve Jobs Issues Update On His Health

Seriously - months to prepare? I've seen massive numbers of keynotes in my day, and while they're impressive speeches, they're just that. Why would anyone need more than a couple weeks for this, much less a techno-weenie like Jobs? I've given a talk to 1,400 with a week to take over someone else's content....

Comment: Re:Time for vector processing again (Score 1) 251

by Johnny_Longtorso (#26002511) Attached to: IEEE Says Multicore is Bad News For Supercomputers

You seem to have missed the point of COTS entirely. And you're way off the mark on the price differential - unless you're talking about an 8 CPU "supercomputer".

The whole reason HPTC bled down to COTS product was the outrageous costs of more proprietary hardware AND the fact that COTS product performance and reliability were on a massive upswing.

I work with LOTS of customers using HPTC - and very, very few of them are still running a single application. It's the nature of growth & development - there are older apps and there are newer apps.

There's a 235 node 10G InfiniBand connected HP-based supercomputer humming right behind me as I type this....

Comment: Re:Even cheapskates like me can see the disc. (Score 5, Informative) 210

by planet_hoth (#6783086) Attached to: Mars at Opposition - Earth at Transitition
If you weren't using a telephoto lens or a telescope or something else to magnify the image, then it probably wasn't the actual disc you were resolving. It was probably just the excess light from Mars "bleeding" onto adjacent detectors on the surface of the camera's CCD. Or maybe the camera had trouble focusing?

For comparison, I have a 2 megapixel camera with 3x optical zoom, and when I hook it up to my 3.5" newtonian telescope, the disc is still tiny. You really need a telescope or a serious telephoto lens to be able to resolve the disc.

Stupidity, like virtue, is its own reward.