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Technology Stocks : Information Architects (IARC): E-Commerce & EIP
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To: Larry Brew who wrote (8130)10/8/1998 1:56:00 PM
From: Jeffrey S. Mitchell  Read Replies (1) of 10786
 
The banks, if needed, will be bailed out.

Wooo... haven't we learned anything from the S&L crisis? From what I have been reading, banks that don't meet rigid Y2K guidelines are being shut down without mercy. Somewhere on SI is a story of a bank that was made an example of and axed for their lack of Y2K preparedness.

Just heard last night on the news a discussion about what to do about the Japanese banks that are in serious trouble. Again, from what I gather, based on experience with our S&L crisis, they're thinking about just letting some banks die as a way to prune the weak.

Do you really think the US will spend more billions on banks because they didn't do a good job convincing their customers that they were Y2K compliant and that their money was safe there?

- Jeff
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