Y2K (Year 2000): Is Wall Street & Banking Vulnerable? Message Board

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Technology Stocks : Y2K (Year 2000): Is Wall Street & Banking Vulnerable?

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To: C.K. Houston who wrote (49)	6/18/1999 10:30:00 AM
From: C.K. Houston	Read Replies (1) of 158

$$$: THE LATEST FIGURES - Straight from the Federal Reserve Bank greenspun.com Pick a poll, any poll. This one: gallup.com Or maybe this one: cnn.com Or perhaps this one: sciencedaily.com Your choice. They ALL say that (X%) people plan to pull out "a little extra" money or (Y%) all of it before 12/31/99. Ken Seger Ken, the banks will fail not for technological reasons but for psychological reasons. Reserve banking relies on trust and confidence, both of which are running on fumes these days. I realize i'm just re-stating your argument. The first bank that attempts to limit withdrawals will spark the countrywide panic. the news that people can't get their money out of even one branch of one bank will spread so fast it will make professional journalists green with envy. Cowardly Lion "Yes, my plans call for a large withdrawl in November." Richard, the question is -- will you be ABLE to do it then? It does seem that everyone has the same idea, & that 270 million people will be trying to make a large withdrawal at the same time. Maybe you need to give that a little more thought. act now (beat@the.rush) greenspun.com ----------------------------------------------------------------------------------- FDIC SURVEY: Y2K and The Banking Industry - Baseline Survey Report - 62% will definitely or probably withdraw some extra cash. - 14% will definitely or probably withdraw ALL deposits. fdic.gov FEDERAL RESERVE BANK OF SAN FRANCISCO Y2K Liquidity Contingency Planning Message 10129152 Cheryl

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