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URL:  http://boards.fool.com/based-on-the-extraordinary-circumstances-we-16033284.aspx

Subject:  Re: I Bond Issue Date Date:  11/1/2001  4:39 PM
Author:  foobar73 Number:  2328 of 35400

...Based on the extraordinary circumstances, we waived the regulations determining issue dates for the month of October....

I logged on on 10/30 and I saw the big sign at the top of the page that said "Your purchase may receive a November date" or words to that effect. I wonder what the "exceptional" circumstances were that made it impossible for people to read all of a sudden.


The "exceptional circumstance" was that American Express started charging bond purchases as cash advances on 10/26, rather than as regular purchases, as promised. Not only did people start getting hit with cash advance fees and interest, but cash advances are limited to a lower amount than the usual credit limit, and so some people were unable to buy all the bonds they wanted. Enough people complained about this that Treasury Direct had to stop accepting Amex, and extend the deadline for those affected.

The Online Banking board has more lurid details, plus some first-hand accounts, I believe.
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