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$7.2 Billion — This does not compute!

December 22, 2010

Mrs. Picower voluntarily agreed to return $7.2 Billion to the Madoff Trustee Recovery Fund.  As one of the largest beneficiaries of the fraud, she made the correct moral choice — but what was her real motivation?

Rocky figured this out!

He discovered that Mrs. Picower’s copy of Quicken Personal Finance Software crashed.

Quicken cannot handle dollar amounts larger than $99,999,999.99. Hence the $7,200,000,000.00 sitting in Mrs. Picower’s account was causing her computer to crash!

 Rather than rebooting the computer, she decided to boot the cash to the other victims.  For technical details, see: http://quicken.intuit.com/support/articles/using-quicken/reports-and-graphs/483.html  (The technical term is “maximum supported value.”)

[Disclosure: It’s difficult to imagine a checking account balance of $7.2 Billion. It’s even more shocking to realize that at  1% interest rates, she’s accruing interest at $200,000 per day! It’s worth noting that TurboTax does not list a “maximum supported value” so Internal Revenue Service Agents can relax…]

  1. ld
    December 26, 2010 at 8:30 pm

    I have serious issues with Intuit software. Quicken and even TurboTax are past good ideas poorly executed. This post came as no surprise, Rocky. It will be interesting to see when a real competitor emerges to this business. Check out http://www.finappstore.com/ . The real question is whether (with or without precision) the masses will manage their finances better as a result. I am waiting for software with serious societal impact to change the world of personal finance thus resulting in even greater wealth for Americans. Crazy?

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