8 Jun
1998
8 Jun
'98
1:45 a.m.
Nothing. First the courts would appoint someone to run the company on behalf of the creditors. Then someone would buy the assets and customers for 10 cents on the dollar. Operational impact will be minimal to nonexistent.
Effectively this argument is "UUNET are way to big for the market to ever let this happen". Almost certainly true - but this is a real danger sign. It is that sort of situation that actually begs for a crash (as much as anything does) and the more "it just can't happen" it is then the bigger the crash will be. Holds a lot in common with how the dynamics of stock market crashes. Besides - if it won't happen to UUNET it may still happen to someone smaller but still big enough to be of concern ... Manar