Sunday, October 14, 2012

The story of the $1 robbers

Good morning economists. When you hear about bank robberies you usually think about large sums of money right? Well in the Jeffrey McMullen case, this did not apply. Apparently the 50 year old entered a well known bank in Pennsylvania and demanded $1. In fact, he let the bank teller know that this was a federal robbery.

Even though the bank employees thought that it was a joke, the man was insisting that he was robbing the bank. In the end he was arrested and is now waiting a preliminary hearing. His bail is set at $50.000. For some reason, his motive from robbing the bank was to get caught in order to be sentenced in the federal jail in central Pennsylvania.

Is it worth it, one may ask to risk imprisonment for a buck? At first glance the answer is no, however, I would not be surprised if the man's financial situation was so bad that he wanted to go to jail where he would have free accommodation and free food. Think about it. How long do you think he will be sentenced for?

A similar robbery took place in the Carolinas  a year ago when a man who was so desperate for medical attention, robbed a bank for a $1 and then waited for police to arrive. It will be interesting to see whether the dollar robbery streak continues. 

Have a nice Sunday!


  1. This has take place in other countries too but it seems that not everything reaches our attention. Trying to get themselves behind bars is actually taking place because people are in need of shelter,food and medical services through a less humiliating way.The people who don't want to go to jail are seraching for food in the bins at night and sleep in homes without electricity trying to keep water bills up-to-date so as not to remain without water sevice too.Rumour has it that it has lately been a common practice in Athens and Cyprus.

    1. You are right Maria. It seems that people are trying to secure their basic needs through unorthodox ways!