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Technology Stocks : Y2K (Year 2000): Is Wall Street & Banking Vulnerable? -- Ignore unavailable to you. Want to Upgrade?

To: C.K. Houston who wrote (64)	7/14/1999 5:07:00 PM
From: Bill Ounce	Read Replies (1) \| Respond to of 158

re: UK Financial Services Authority You've identified an obvious conflict of interest. Their function is to preserve the stability of the banking system. Publishing bad news details out harms the system short-term. Restricting bad news harms the system more long term as people have less time to prepare for messes. Lacking guts, they keep taking the short-term position of "safety". But, there's more... This also illustrates their ultimate conflict of interest. Publishing bad news at this stage of game is proof that the Financial Services Authority is incompetent in handling its oversight position. This is the best reason for them to keep things hushed up. Of course this all makes for another good conspiracy story. Hope these are all just nasty rumors. If the stories are true, this could make a big mess on financial markets world-wide.

To: C.K. Houston who wrote (64)	7/17/1999 10:36:00 AM
From: C.K. Houston	Read Replies (1) \| Respond to of 158

JITTERS IN LATIN AMERICA - Financial Times ft.com '....The millennium (Y2K) bug poses additional dangers, with some analysts predicting investors will pull money out the region for fear of a New Year's Eve financial meltdown. "We fully expect a rush of private capital out of emerging markets sometime before the Y2K bug evolves into a problem," says Carl Weinberg, chief economist at High Frequency Economics. "If so, huge capital outflows from emerging markets before the end of this year will cause monetary implosion across the developed world and reverse all the incipient economic recoveries."