IP: Sen. Moynihan Warns of Y2K Catastrophe

["Vladimir Z. Nuri" <vznuri@netcom.com>]

From: believer@telepath.com
Subject: IP: Sen. Moynihan Warns of Y2K Catastrophe
Date: Sat, 31 Oct 1998 08:42:26 -0600
To: believer@telepath.com

Source:  http://www.senate.gov/~y2k/statements/100798moynihan.html

Senator Daniel Patrick Moynihan, Senate Special Committee on the Year 2000
Technology Problem (Oct. 7).
 
As we wind up the last Year 2000 (Y2K) hearing of this Congress, I would
like to commend Senator Bennett and the Special Committee for its work in
addressing the computer problem. The Committee has done a fine job in
looking at all the aspects of society that the Y2K problem affects: the
utilities industry, the heath sector, financial services, transportation,
government, and businesses. The Committee should also be applauded for the
role it played in formulating and passing S. 2392, The Year 2000
Information and Readiness Disclosure Act. As an original cosponsor of this
piece of legislation, I am pleased to see that its enactment is soon at
hand. The head of the President's Council on Y2K, John Koskinen, said that
passing this bill is one of the most important things that we could do on
the Y2K front. I agree. I say well done to the Committee for all of the
work it has done in such a short amount of time. 

It was almost two and a half years ago that I sounded the alarm on the
computer problem. On July 31, 1996, I sent President Clinton a letter
expressing my views and concerns about Y2K. I warned him of the ``extreme
negative economic consequences of the Y2K Time Bomb,'' and suggested that
``a presidential aide be appointed to take responsibility for assuring that
all Federal Agencies, including the military, be Y2K compliant by January
1, 1999 [leaving a year for `testing'] and that all commercial and
industrial firms doing business with the Federal government must also be
compliant by that date.'' 

January 1, 1999 is quickly approaching. I believe that we have made
progress in addressing the computer problem and that the ``Good Samaritan''
legislation will play a significant role in ameliorating this problem. But
much work remains to be done. For the next 450 days we must continue to
work on this problem with dedication and resolve. 

Historically, the fin de siecle has caused quite a stir. Until now,
however, there has been little factual basis on which doomsayers and
apocalyptic fear mongers could spread their gospel. After studying the
potential impact of Y2K on the telecommunications industry, health care,
economy, and other vital sectors of our lives, I would like to warn that we
have cause for fear. For the failure to address the millennium bug could be
catastrophic.
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