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Technology Stocks : Discuss Year 2000 Issues
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To: Howard Clark who wrote (5662)5/7/1999 8:18:00 AM
From: flatsville  Read Replies (1) of 9818
 
See what I mean...Was this a brilliant statement to make or what? (I had forgotten about the asteroid...)

Thursday May 6 4:37 PM ET

Greenspan: Robbers Pose Y2K Threat
Full Coverage
Year 2000 Problem

WASHINGTON (AP) - Federal Reserve Chairman Alan Greenspan is not worried that the world's financial markets will come crashing down because of the Year 2000 computer problem. His fear is more basic - a rash of robberies spawned by people keeping too much cash lying around.

In a speech to a Chicago audience, Greenspan worried that the news media will so dramatize the dangers of computer system meltdowns on Jan. 1, 2000, that the fears will affect the real economy.

''I know the evening news is going to play it as though we are looking at an asteroid which is about to hit us,'' said Greenspan, who is married to NBC News reporter Andrea Mitchell.

Greenspan said he is concerned that people will become vulnerable to robbers who see an opportunity to get their hands ''on real cash.''

Eventually, he said, Americans should see through any media hype and realize there will be no major breakdowns.

''I am sure that people will get very wise very soon and recognize that the last thing you want to do is draw inordinate amounts of currency out of the banks,'' Greenspan said. ''The safest thing to do is to keep your money in the bank where it is going to be the safest.''

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