Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Joseph E. McIsaac who wrote (475)	11/19/1997 4:59:00 PM
From: Joseph E. McIsaac	Respond to of 9818

I contacted the correct person at the FDIC,... and was told that there was yet another person even MORE appropriate to speak with about the cease-and-desist order. This better contact is the head of the FDIC's Year 2000 program. I managed to reach a Vice President at one of the banks affected. He was good enough to take my call, and basically gave me a policy statement. The interesting thing was that he claims that the bank is already compliant, and that the action is not appropriate to the banks current Year 2000 readiness. I will be doing a case study on this activity, with direct input from the FDIC and (hopefully) the banks affected.

To: Joseph E. McIsaac who wrote (475)	11/19/1997 9:54:00 PM
From: David Eddy	Read Replies (1) \| Respond to of 9818

Joe - completely stonewalled us at the front desk! Wow! What a surprise. <g> there must be some history between the FDIC and Putnam-Greene for it to have been selected for such devastatingly distinguished honor. Sounds very likely. Any chance the regulators are wanting to fire a warning shot & just get some practice shutting down someone who's already been a bad boy? I'm not in the banking industry, but I'd have to assume that the regulators in order to do their jobs (and not repeat the S&L fiasco) are going to issue one warning & then swoop in & shut someone down...? Any chance? - David