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To: Bobby Yellin who wrote (15121)	8/1/1998 5:03:00 PM
From: John Mansfield	Respond to of 116764

OT - JPMORGAN ON Y2K: 'I would like to reiterate a couple of key messages. The problem is serious. Things will go wrong. jpmorgan.com

To: Bobby Yellin who wrote (15121)	8/1/1998 5:06:00 PM
From: John Mansfield	Respond to of 116764

OT - From: This July 6 testimony to the Senate Year 2000 Committee - "The dire situation in many Asian countries and implementation of European Monetary Union will keep Y2K a low priority, as these markets experience some of the largest wealth transfers of all time. US financial firms are focused on reducing not only their exposures to Asia and Europe, but also to public sector and middle market entities within the US. The creation of contingency plans that remove cash flows from the critical Millennium period are prudent measures that are the basis of my fledgling optimism as to the risk of Y2K exposure of U.S. financial firms." garynorth.com