GVTucker,<<<The thrust of the article is about how much old code (and presumably dated code) is floating around our financial institutions.>>>
The problem, IMO, is that we graduated, rewarded, and promoted too many MBA's who don't have a clue what technology is all about but are terrific at spouting sound bites ("it's a commodity", "it's outdated technology", "its not Java beans", "wireless PDA's are the future", etc, etc, etc.....)
Most of the computer program code that run Wall Street is still written in Fortran, Cobol, Adabas, basic, et al. Java Beans have no significant presence in back office systems. They spent a fortune remediating Y2K specific software code - but they only scratched the surface - they fixed mostly date related problems. Otherwise, most of the computer software still running were written in the 60's, 70's, and 80's. But, the MBA's that are in charge now are not interested in rewriting the software, they are out looking for the next killer app. They think that they can buy terrific new hardware and some off the shelf software to fix all their problems. That's not going to happen.
Mary |
