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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)
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To: C.K. Houston who wrote (57)9/6/1998 9:34:00 PM
From: David C. Burns  Read Replies (1) of 268
 
The Fed recently indicated that the larger banks seem to be on course in Y2K remediation and they are now turning their attention to the supplier chain, with a particular emphasis on communications suppliers especially the RBOCs. I believe there was a federal reserve press release on this, though I can't find it at the moment. It might be found on the federal reserve Y2K website at
bog.frb.fed.us

And though in general both Federal and State Y2K remediation may be a shambles, the major payments systems are either already certified as compliant, or within a few months of being so. So major breakdowns in the flow of SocSec funds is not probable.

Source: C-SPAN appearances by Tony Keyes, "The Y2K Investor" Co-Host and Author of The Year 2000 Computer Crisis: An Investor's Survival Guide, and Ed Meagher, "The Y2K Investor" Co-Host [private sector], Rep. Steve Horn (R-CA) (chair of Year2000 subcommittee) [Federal legislative], and John Koskinen, President's Council on Year 2000 Conversion Chair [Federal executive,]

A good gateway into Federal Year2000 information, including a scorecard for the Federal government conversion effort (self assessment) can be found at itpolicy.gsa.gov
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