-Caveat Lector-
On Tue, 14 Dec 1999, Edward Britton wrote:
>Do you find that people in general are not smart enough to take this into
>account when visiting the banks or are we all just sheep, ripe for the
>pickings of governments, banks, and other criminals?
"People in general" are sheep...
>Why should I be concerned with banks when it is MY butt that will be out in
>the cold IF something does happen?
But it's not, at least as far as banks are concerned...
>Oh, do "the rest of us" really know this? Do the rest of us place the same
>trust in bank and government propaganda that you do? Do we all accept as
>gospel the garbage pumped out by the media machine in this country?
Actually, the media is feeding the Y2K paranoia...
And I didn't say anything about government propaganda...in my opinion, we
are at good risk of 'someone' using Y2K as an excuse to institute martial
law, and your type of posts, which encourages "Chicken Little" thinking,
is just the thing to bring it about.
But as far as banks are concerned, they've been dealing with Y2K issues
for years (consider: mortgages, consumer loans, long-term moneymarket
accounts)....and banks have 'computer glitches' every day, and yet they
keep on functioning...
Even in a worse case scenario, people will be able to walk into their
local branch on Monday, Jan. 3rd, go up to a teller, and withdraw funds
from their accounts.
Banks routinely back up their data. Every December 31st, they also do a
full system backup which is stored. They do this every year, and Y2K
won't be any different. Banks will NOT lose track of who has what
deposited where....
>>Again, if everyone follows this advice, they will actually bring about
>>the very thing they fear...
>
>Again, my concern is NOT for the freaking ponzi scheme market. Those who
>lose money in the market should try earning their own money as opposed to
>extracting the profits from the efforts and production of others.
I'm talking about hundreds of thousands, if not millions, of people
following your advice in the next two and a half weeks, and making a run
on the banks plus selling out on Wall Street...which would bring about a
financial crash to make 1929 look like a children's tea party...
And thereby bring about the very thing you fear...not by any software
glitch, but by your own stupid panic...
>Wall Street, like banks, has been compliant for a long time...
>Do you believe in the tooth fairy too :-)?
No, but you obviously believe in the Boogie Man...
I've been a COBOL programmer in the financial industry since the early
1980s, so I know the state of the industry's compliancy....
I'm not saying there won't be glitches...what I AM saying is that the
world as we know it won't end, it won't even be severely impacted, due to
any Y2K glitches...
June ;-)
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