OH DEAR ... 38% of IT Executives Planning on taking Money out of Banks???
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Foreign Banks Are Behind in Repairing 2000 Bug
nytimes.com
By SAUL HANSELL November 10, 1997
Big United States banks and investment firms, prodded by regulators, are making progress on a widespread software problem that could cause computers to crash seconds after midnight on Dec 31, 1999. But many overseas banks in the increasingly interdependent global financial system may be woefully behind or even ignoring the problem.
The potential problems are great enough that 38 percent of the 1,100 computer industry executives worldwide that Gartner surveyed in September and October said they might withdraw their personal assets from banks and investment companies just before 2000.
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Banks Bracing For Year 2000
techweb.com
November 10, 1997, Issue: 656 By Bruce Caldwell
According to surveys conducted by Gartner Group Inc., although U.S. banks have completed 30% of their compliance efforts, "they have a probability of 10% system failure," says Lou Marcoccio, director of year 2000 research at Gartner. Part of the problem: Surveys of vendor compliance efforts are rarely accurate because most vendors "don't know what they don't know," says Marcoccio.
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US play down Y2K computerweekly.co.uk
Monday 10 November
A US backlash has begun against the expected effects of the millenium date change, with some businesses predicting little or no trouble. And though they agree the date change needs addressing, many insist the millennium saga is little more than a hype designed to benefit software companies, speakers, authors, and most of all, consultants. |
