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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Mizer who wrote (9090)	11/8/1999 8:02:00 AM
From: flatsville	Read Replies (1) \| Respond to of 9818

Jeff-- My understanding is that the premise of the NBC y2k movie borders on stoopid (which I believe is an understatement.) However, it will no doubt give many people pause for consideration and get them talking at minimum. Tonight Steve Kroft is doing a special segment on the CBS Evening News on remediation abroad which I understand may not inspire confidence. Unlike the "movie" this reporting will be reality based Tee Vee. I have an urge to call my big-brained polly Mac using friends and ask them to watch the segment and then report back as to whether or not their "comfort" level has increased or decreased. (I'm certain if I try harder I can supress it.) Afterall one friend with a master's degree in hospital administration recently told me she didn't think the global situation was that bad because all those computers in China and Japan didn't have a y2k problem...the run on a different calendar ya know...and that she had put some though into this...or so she told me... The battle for perception management through spin control will get very interesting and heated as time grows shorter. I found this last week: biz.yahoo.com Fair Use/etc... Thursday November 4, 10:51 pm Eastern Time Banks draw from special Y2K discount window-Fed >>>NEW YORK, Nov 4 (Reuters) - The Federal Reserve Bank of New York said on Thursday banks had made the first significant borrowings this week from the discount window using special terms set up to handle year-end liquidity needs. The Fed said banks borrowed $210 million on Wednesday at the discount window under the special facility which allows for expanded collateral. Fed officials said it was the first time they had seen ''significant borrowings'' under the facility which was created to address any year-end liquidity problems related to concerns over the Y2K computer bug...<<< Now bear in mind this is very expensive money. The Fed recently expanded the class of paper they'll accept as collateral thus make borrowing easier, but no cheaper. At roughly 60 days the banks are starting to draw on the funds in significant amounts. From a liquidity perspective this may get interesting "sooner" rather than later. >>>I am just hoping it is "only" (an) economic disaster.<<< Given the range of possibilities, I agree.