China muzzles Securities Y2K testing results, Taiwan quantifies Y2K economic damage.greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Don't disclose it
15% GDP loss?
-- Norm (firstname.lastname@example.org), April 07, 1999
"Because leaked news of still-unresolved Y2K problems could panic investors and disrupt market stability, the watchdog ordered confidentiality throughout the inspection process. Another likely goal of the secrecy order is to calm fears that intrusive technical inspections by outsiders will threaten the companies' proprietary commercial secrets and technology. "
Are you sure they're talking about CHINA?
-- FM (email@example.com), April 07, 1999.
Sounds like China has a more "proactive" policy regarding the stock market and brokerages than the U.S. Government. I'd be surprised if there were not some outraged investors in China.
In retrospect perhaps this is why the U.S. Govt. has not taken a stance like this. They could simply be afraid of enraging the public and positioning the market for an obvious downturn. Of course there is sufficient evidence this will manifest itself without the help of any Government action. Inflated tech and internet stocks being the ones easy to identify with supply problems with Just in Time manufacturing.
The SEC has not even taken a stance this dramatic. Could we see something like this in the ensuing months?
-- Thomas G. Hale (firstname.lastname@example.org), April 07, 1999.
I hear that as punishment, those that break the confidentiality agreement will join the airline executives on their New Years's Eve plane ride.
-- a (email@example.com), April 07, 1999.