2000 Date-Change Problem: Scam, Hype, Hoax, Fraud Message Board

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Technology Stocks : 2000 Date-Change Problem: Scam, Hype, Hoax, Fraud

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To: Bill Wexler who wrote (132)	10/3/1997 10:50:00 PM
From: David Eddy	of 1361

Bill, You know I won't let this go... I've also seen the transcipts from the congressional hearings. I still say that this issue is a hoax. No question that congressional testimony borders on the theatre of the absurd. Have you read the Senate subcommittee (Finance) testimony, particularly from Dave Iacino of BankBoston? And which issue is a hoax? Y2K or Y2K stocks? Computers have boundary conditions of all kinds. I worked on an international banking application for a money center bank in the mid '80s. I have verified that the system is still in operation. The software that I wrote produces legal contracts. The core system uses the sliding window technique. Unfortunately the text processing software I used will produce the date "January 1, 1900" on January 1, 2000. So what's the big deal? These are legal documents that become bankers acceptances. It just happens (I did consult legal counsel) that the UCC (Uniform Commercial Code) does not cover the case where an acceptance is in fact back dated. So if the bank honors the acceptance they can be damned if they do & damned if they don't. Small detail on it's own & shouldn't take more than a few minutes to code the change... if they can find anyone who knows that language anymore... it ain't COBOL. David

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