http://www.wachovia.com

Click through to read a completely unambiguous statement of compliance by a large bank. Now, why can't all of the other banks say things like this?

-- John Ainsworth (ainsje@cstone.net), July 06, 1999

Answers

I saw a full page Wachovia announcement over the weekend. It said "Happy New Year" in 3000 point font and then had the usual "we're damn glad we're ready and we hope others are...we can't guarantee that you know." Read in the Roanoke Times (VA) on Saturday.

br14

-- br14 (br14@bout.done), July 06, 1999.

"This material is intended for general information purposes and should not be interpreted as a specific representation or warranty by Wachovia Corporation and its affiliates with respect to its Year 2000-readiness or a recommendation for action on your part."

This sounds pretty darn ambiguous to me! They can say anything they like and tack this little disclaimer on the end and it's just like a little kid crossing his fingers behind his back.

www.y2kkitchen.com

-- Sally Strackbein (sally@y2kkitchen.com), July 06, 1999.

br14

The same ad was in the Charlotte, NC Observer over the weekend.

-- cb (PR@competition.com), July 06, 1999.

Sheesh Sally, Wachovia has taken out ads in major newspapers saying that they are ready, their website says that they have fixed and rigerously tested their systems, giving details on how they did it. This is all I (and I think most doomers) have asked for from the banks; some reasonable information saying that they are ready for y2k.

Even Gary North says Wachovia sounds compliant http://www.garynorth.com/y2k/detail_.cfm/5095

If they are lying then the've got larger cajones then I would ever have given them credit for. Give up being a fundamental skeptic Sally, its a bad way to live.

My question still remains though, where are the statements like this from the other banks? If the other banks are ready, why aren't they shouting it from the rooftops like Wachovia?

-- John Ainsworth (ainsje@cstone.net), July 06, 1999.

Yes, they are my bank too. Good, they're ready, and ready to say so.

But when you talk to the branch managers, they admit their absolute reliance on power, phone and telecom/satellite services. If these remain up, they may be able to remain in routine service.

Haven't asked yet if Wachovia will refill the teller machines over the New Years weekend.

-- Robert A. Cook, PE (Kennesaw, GA) (cook.r@csaatl.com), July 06, 1999.

Hey Genius,

If they tried to pass off that they weren't reliant on power and telephones, what would you say?

You make it sound like you got him to admit he had Herpes or something secretive and nefarious.

-- Gonzo (gonzoj@gonzo.com), July 06, 1999.

NOpe - only that they (the managers) agree that they rely on the same things the rest of us do......so if power, or phones, or satellites, or downtown offices (or whatever) is out for a while, then the banks and ATM's are out too.

So, how much cash do you want to bridge the gap until they get everything up and running correctly?

But, have you noticed? If you prepare ahead of time, you won't need to worry about what the bank is doing in the meantime. You won't need very much cash to "tide the gap".

So prepare for problems ahead of time - save the banks.

But the government doesn't want us to prepare, that's panic mongering and will lead to bank runs......

-- Robert A. Cook, PE (Kennesaw, GA) (cook.r@csaatl.com), July 06, 1999.