posted on Mar, 17 2008 @ 05:44 AM
Well, in my opinion, people's concerns were valid.
Bank runs were a concern because it was not known how the software would handle the date turn over. Some of the software I came across handled
interest in a very screwed up manner. (How would you like your account to loose 100 years of interest in 1 second?)
No money, no shopping. Thus the need for food and supplies being stockpiled.
Y2K wasn't an end of the word prediction per say, but rather a crash of the global economy prediction. This isn't even going into the problems of a
crashed telephone network, crashed utilities system, etc.
All of these concerns were valid if nothing was done.
A lot of problems were found in the lab and were resolved before the date took place. It wasn't done just in the nick of time. We worked for years
on cleaning up this stuff before the date came. Some programs (aka clean and proper code) didn't need to be touched. Others required significant
The media sensationalized all of this making it sound like the industry was farther behind then it was.
Now, take this into account. When would a bank notice Y2K problems? When interest calculations passed 2000. A 5 year bond, heck, even a 30 year
mortgage, discovered problems far ahead of 2000, and we worked on resolving them way before any deadline. The stuff that happened was minor because
countries focused on the core systems (power, water, etc.) first before even looking at the minor stuff.
Racal had to recall a ton of credit card machines because they couldn't read 2000+ expiration dates on cards. ATM machines had problems. Several
alarm systems and billing systems had problems. VM and e-mail systems had problems (delete the new stuff first!) The problems were there. They
happened. The major stuff didn't break because they were fixed first.
I never felt anyone was foolish for thinking Y2K was a problem, simply because it could very well have been if companies didn't take it seriously.
To me personally, Y2K was an extremely lucrative time. I worked a ton of hours, and got paid very well for my time.
Luckily, I won't have to do worry about it again until 2038, but I will hopefully be retired by then.