|
|
|
|
|
Y2K And your Savings
|
|
|
The Y2K Scare: How will you protect your savings? Douglas Bonczek Karen Walker English 102 Paper # 5 – Final Paper May 12, 1999 Thesis: The United States banking system will be ready and able to protect your money in their banks at the millennium, and there is no need to panic and remove your money from the system. Audience: My audience is the regular John Doe who has some money in a savings account or checking account at their local bank, and is worried that the “Y2K” bug might bite them on the butt and take all their money. They don’t play the stock market, and they aren’t extremely wealthy. They are just your average lower to middle class American. OUTLINE I. Introduction A. The Y2K Crisis B. Thesis II. What is Y2K? A. Explanation of the Y2K crisis B. Why people fear the “Y2K bug” III. The US Banking system A. How it works B. Y2K Safeguards C. Y2K Preparedness IV. Your money A. Why it’s already safe B. How to protect it C. What to do if you have more concerns V. Conclusion A. The US banking system will be safe 1. explain why B. Proven safeguards for you and your money 1. go over them C. Restate Thesis The Y2K Scare: How will you protect your savings? In 1997, financial institutions, national utilities, telecommunications companies, and the US government all realized that their computers might not recognize the year 2000 as 2000, but instead see it as 1900. This would cause a computer problem that would possibly shut down all power grids, mess up the phone lines, and cause banks and other financial institutions to lose all records of their deposits. The main worry people have is their financial security; how will there bank fare in the months ahead? I feel that everything will be fixed and our financial system will stride right through Y2K without a hitch. The United States banking system will be ready and able to protect your money in their banks at the millennium, and there is no need to panic and remove your money from the system. The “Y2K bug” is a worldwide computer glitch that would cause all computers to read the date on January 1st 2000 as January 1st, 1900. This is a bad thing for all financial institutions, especially banks. It sounds like a Hollywood script, or a simple computer game. The entire financial system will shut down on Jan 1, 2000, unless it is fixed in time- however, in movies, the “good guys” only have minutes to solve their problems.
|
|
|
|
Still Can't Find What Your Looking For? Then Try a Essay Search!
|
