this post was submitted on 23 Nov 2023
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How do those companies pay these gigantic fine? $4 billion wire transfer? Does the bank even allow wiring that huge amount of money? Monthly Installment? Trucks carrying palettes of money?
The balance is kept at a bank and the banks have ledgers with the reserve bank who in turn adds $40B to the asset column and negates $40B from the liabilities column. That's the basic version. Nothing changes hands per se. It's just 1s and 0s on a computer.
In cobol nonetheless.
You mean COBOL.
Fraudsters HATE this one old-timey computer language
Edit: for real tho, can learning COBOL easily translate into some bank or bank-adjacent role even if they don't have a CS degree or whatever?
I've heard 2nd stories of the few old-timers who still know COBAL, FORTRAN, etc who have very generous salaries working in sectors like banking. It's probably too late now though.
Isn’t too late. Work in a very large bank. Some of the COBOL underpinnings will probably never die. The same cannot be said for their maintainers.
You're probably better off learning java at this point, its the future equivalent of COBOL for banking.
It's on my to-learn list.
Either that or a literal Excel spreadsheet.