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Technology Stocks : Discuss Year 2000 Issues

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To: flatsville who wrote (8639)	9/12/1999 11:29:00 PM
From: David Eddy	Read Replies (3) of 9818

Flatsville - We are not arguing the accurate measurement of 75%, 90% or 99% of the work accomplished to implementation with this study This survey involves the total number of COMPLETED systems...again not the measurement of the remediation job along some continuum. The study indicates only 22% of the 14% participating foreign investment banks, clearinghouses and stock exchanges claim to have fixed, tested and implemented their systems...In other words claim to DONE. A quiz question from the 1929 market collapse & follow-on bank failures (not necessarily directly related, but that's another issue)... What was more causitive for the banks that collapsed? - withdrawals by small depositors? - withdrawals by large depositors? You've got a 50% chance of getting the answer right, so this doesn't show much of anything. So now the hard question... - when did the Federal Reserve know the answer? - David

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