Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: Tell It Right
Yeah--but I was more of a traveling consultant, if you will. I worked in several different industries for a bunch of different companies just doing Y2K work.

Most were routine, but quite a few were life-threatening. While banks probably wouldn't lose your account balances, they could very well have frozen accounts, transferred wrong amounts, thinking there was an overdue amount, or transferred not enough thinking that it had already been done. The economy could have been ruined.

8 posted on 01/25/2022 11:25:36 AM PST by ShadowAce (Linux - The Ultimate Windows Service Pack )
[ Post Reply | Private Reply | To 7 | View Replies ]


To: ShadowAce
I was a young programmer then, so maybe I didn't understand the magnitude of the potential banking problem. I have the understanding that if any of them transferred the wrong amounts it could be easily corrected in the next ACH batch (assuming the account holder didn't remove all the money the next day).

A one or two day pause fixing the things that weren't ironed out correctly the first time doesn't sound to me like an event that would have ruined the economy any more than, say, the Sep 11 attacks forcing the NYSE to close at 10 AM on Sep 11, 2001 and not open again until Sep 17. Yes the stock market dropped a lot that day, but no one says it destroyed the economy or the stock market. (The market had been dropping since March 2000 anyway.)

10 posted on 01/25/2022 11:37:22 AM PST by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
[ Post Reply | Private Reply | To 8 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson