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If this story comes true, the Securities & Exchange Commission is not going to force companies to tell investors where the companies are in the 2000-compliance repairs.
Meanwhile, Senator Bennett has pulled his proposed legislation requiring this. No need, he says; the SEC will soon take action. As George Goebel used to say, "Suuuuuuuure they will."
This is more proof that y2k cannot be solved and will not be solved before 2000. It will destroy stock values. It is so much of a threat that the powers that be have pressured their regulators -- it says here -- not to force them to tell the truth to the public on this matter.
Watch for insider trading and resignations off of boards of directors before the end of 1998.
This is a Reuters story (Feb. 20).
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