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             However unforeseen, the Y2K problem originated in the early days of computing when programmers and hardware engineers alike needed valuable storage space in a computers memory to hold information. Programming instructions to tell the computer to turn over from 1999 to the year 2000 was not feasible with the technology of the present time. Lacking initial confrontation in computer programming, the turn from 1999 to 2000 continues to be disregarded though technological advancements could have supported the issue. The standard for computers programmers followed the original format, thus developing the Y2K issue of today. If the issue had been confronted at an earlier time in computer programming, societal concerns of Y2K would not be an issue. .

             Several aspects of the Y2K bug could potentially collapse our economy. Core problems such as legacy software, which banks use to keep track of money transactions, use older computer code that will not process information after the year 1999. The confusion of this code will cause their computers to freeze, thus stopping transactions taking place in the banking system. The banking system as a whole is in the middle of an upgrade process right now. Customers worry about their money being safe in a bank as the year 2000 approaches and are planning too withdraw there cash to keep at home until they are convinced that the Y2K problem has passed. "The federal Reserve has ordered an additional $50 billion of new currency to put into circulation for when people make a run on banks and automated teller machines late next year. Federal governors have assured Congress there will be sufficient cash available to the system to cover a wave of withdrawals" (Marcy Gorden). .

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             Internal chips found in banking system computers have instruction sets that will automatically delete information that is more than five years old. These chips are not software upgradeable and have to be replaced manually with new rewritten year 2000 compliant code.