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Honestly I think we should be more worried about them pushing a poorly tested update to the Treasury systems that grinds the entire US government disbursement i
by throwup238 2y ago
Honestly I think we should be more worried about them pushing a poorly tested update to the Treasury systems that grinds the entire US government disbursement infrastructure to a halt and deletes a bunch of historical data that can't be easily recovered for good measure. That would send a massive shockwave through the global economy that would make the GFC, all of our government shutdowns, and debt ceiling brinkmanship look like child's play.
The system moves on the order of a ten billion dollars a day. If that's interrupted, who knows how bad the disruption to cash flow will send debt servicing into a spiral.
What if they fuck up the Fed intraday loan system altogether? That could cause a cascade of bankruptcies that can take down all of our banks and the entire world's financial systems to boot (thank you, too big to fail).
- tombert 2y agoI've said this a few times, but "efficiency" is a term that doesn't really mean anything in isolation, meaning that it can mean whatever you want it to mean. Subsequently, no matter how much they fuck it up, they will still twist around some numbers and claim victory.