Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 48.59

-1.3%

Feb 4 3:59 PM EST

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To: Tony Viola who wrote (123592)	12/21/2000 10:12:43 PM
From: Amy J	Read Replies (1) of 186894

RE: "I don't know about emptying ATM machines" Hi Tony, AG increased cash reserves prior to Y2K so that each American family could withdraw $1,000 in cash. $1000*125MM HH = $125B. In order to achieve this $1k/family goal, he had to increase the Federal Reserve cash by (I believe $50B) by exactly that amount needed to achieve $1k/household (HH) and not one penny more. I wouldn't consider increasing cash reserves to achieve $1k wtihdrawal/family an incorrect action - I think what he did was appropriate, even though it is causing issues today (which I believe are correctable). Best regards, Amy J

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