What do you think the Bankers doing with their money now? Do you believe they are leaving it in the banks or markets?

They are doing their best to forestall panic....for the obvious reason that panic would cause runs on the banks. However, I think it is a foregone conclusion that sooner or later, panic WILL happen, and the banks and markets WILL suffer.

It seems to me that the "big boys" must have some major contingency plans in place. Anyone care to speculate what these may be?

Sheila

-- Sheila (sross@bconnex.net), January 25, 1999

Answers

Knowing how trustworthy they are, I suspect they are B.S.ing each ohter while secretly making plans to run & hide. There real problem is what to do about their mistresses.

-- curtis schalek (schale1@ibm.net), January 25, 1999.

The branch manager at a bank my folks bank at says that she is scared. The personal banker I talked to at a local bank said that she is worried. What they will do with their money is anybody's guess. I do not expect that they are in your average "Aggressive growth" mutual fund now.

-- Sue (conibear@gateway.net), January 25, 1999.

Two true stories in my experience, neither proves anything, but they're interesting:

1. A bank president I know personally commented to me privately that "he was going to take some of the bank's money out and put it under HIS pillow" at end of December so he could have some to help other people. BTW, he is a very honest guy. He was "joking", of course. In fairness to him, he really does believe banking is going to make it IN THE STATES. Note qualification. He is terrified of possibility of panic.

2. A friend who works for a savings and loan told me that the staff has been told (a) tell everyone who asks that Y2K is no problem, we've got it covered and (b) no vacations from Dec. 15 thru Jan 31 next year. Her personal opinion is that her bank will be unable to provide cash to people.

Look, guys, I am a DOOMBROODER, but these stories are merely of anecdotal interest.

-- BigDog (BigDog@duffer.com), January 25, 1999.

My wife is a local bank exec. He GI managers and coworkers are very concerned, not just about Y2K and banks but Y2k and societal problems as well. Those that can are talking seriously about retirement before year's end. "Cash-in the stock options and run for the farm."

The DGI's are concerned because they see some serious financial problems out there with the US and world markets that could make the banking business not much fun to be in. Those that can are seriously talking about retirement before year's end. "Cash-in the stock options and run away to Florida."

And this local bank is doing well, Y2K-wise. They've done all they can to get their house in order but they realize that external factors (power, phones, the check-clearing system and wire transfer system) can still put all of their efforts into the trash.

BTW: I've heard Alan Greenspan has a big ranch out in northern Wyoming that's really self-sufficient and...

WW

-- Wildweasel (vtmldm@epix.net), January 25, 1999.

THINK ABOUT THIS ONE!, fellow forumites.

This thread raises a view of y2k's approach we need to explore more.

As 1999 surges onward, we have the opportunity to uncover and share the plans of the rich and mighty, politicians and celebrities -- from real estate agents, generator dealers, construction contractors, etc. who are doing the details for them in a farm or ranch just down the road from you, maybe.

The ones who can write a check for a rural "fortress" might be waiting a few more months in their over-confidence. Or they may have their trusted personal representatives or corporate lawyers out now doing deals for them and keeping their names out of it.

Most probably already have someplace way out in private surroundings. If so, they'll be retrofitting it for self- sufficiency. (Don't you notice -- the rich always seem to be drawn to accumulate large landholdings? Maybe all y2k is is a kick in the pants for us peons to learn something valuable from them.)

(Thinking of Gerald O'Hara's last words "The land, Katy Scarlett. Never give up the land!" I could go check the quote exactly, but you know what I mean.)

Let's out the rich GIs.

-- (jor-el@krypton.com), January 26, 1999.