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Recommended Resources Offshore havens, asset protection, global investing and other useful techniques.
The Year 2000 Bookshelf Books to help your evaluate the Y2K problems you face.

Gary North's Y2K Links and Forums - Mirror

Summary and Comments

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1997-11-22 18:51:44


Up to $6 Billion to Fix U.S. Securities Industry



This estimate of up to $6 billion sounds like a lot of money. It is a lot of money. The question is: Will it be spent? The bigger question is: Will the spending work? The biggest question is: Will it matter if the world's banks and all the securities industries on earth are not compliant?

We're back to those three deadly words in the Year 2000 Problem: "You go first." You go. As in Yugo.

On the allocation of resources necessary to complete a y2k repair job, see the California White Paper.

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Arthur L. THOMAS of Merrill Lynch heads the SIA Year 2000 Committee. Merrill has estimated that Y2K compliance will cost the securities industry $4-6 billion over the next two years. Securities firms are expected to be conducting internal tests by mid-1998 and industry-wide testing is scheduled to begin March 1999.


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