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Technology Stocks : Stock Swap
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To: Kachina who wrote (13753)5/11/1998 3:54:00 PM
From: Jeffrey S. Mitchell  Read Replies (2) of 17305
 
But Y2K was old news 20 years ago in banking.

The unanimous conclusion among Y2K "experts" is to short mid-tier bank stocks starting now because of their exposure to Y2K. The reasoning is that:

1) The FDIC is there to protect bank customers, not management, and, in the wake of the S&L crisis, will shut down banks in a heartbeat that fail to meet stringent Y2K-related guidelines.

2) 38% of IT professionals said they will withdraw their money from banks prior to the year 2000 in anticipation of Y2K related bank collapses; what do they know that we don't?

- Jeff
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