{"id":966,"date":"2025-05-11T12:10:59","date_gmt":"2025-05-11T12:10:59","guid":{"rendered":"https:\/\/posse.keithlewiskeithlewis.com\/?p=966"},"modified":"2025-05-11T12:10:59","modified_gmt":"2025-05-11T12:10:59","slug":"the-code-that-controls-your-money-clive-thompson-wealth-simple","status":"publish","type":"post","link":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/2025\/05\/11\/the-code-that-controls-your-money-clive-thompson-wealth-simple\/","title":{"rendered":"\u201cThe Code That Controls Your Money\u201d &#8211; Clive Thompson (Wealth Simple)"},"content":{"rendered":"\n<p>\u201cThe Commonwealth Bank of Australia tried to rewrite a core system in a fresh language; the project cost twice as much as they expected, $1 billion in Australian dollars. Len Santalucia, the longtime mainframe expert, once worked with the financial institution DTCC to investigate the possibility of converting their COBOL to Java.<\/p>\n\n\n\n<p>\u201cThey probably have about seventy-five million lines of COBOL code,\u201d he tells me, \u201cand they found out that it would cost them so much that it would take, maybe, a couple of lifetimes to recover. It was ridiculous. And they have more money than God.\u201d<\/p>\n\n\n\n<p>So the banks shrug, and figure, screw it. If it ain\u2019t broke, don\u2019t fix it. Keep the old COBOL running\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/www.wealthsimple.com\/en-ca\/magazine\/cobol-controls-your-money\">https:\/\/www.wealthsimple.com\/en-ca\/magazine\/cobol-controls-your-money<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe Commonwealth Bank of Australia tried to rewrite a core system in a fresh language; the project cost twice as much as they expected, $1 billion in Australian dollars. Len Santalucia, the longtime mainframe expert, once worked with the financial institution DTCC to investigate the possibility of converting their COBOL to Java. \u201cThey probably have&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"webmentions_disabled":false,"footnotes":""},"categories":[15],"tags":[5,3,4],"class_list":["post-966","post","type-post","status-publish","format-standard","hentry","category-links_read","tag-extract","tag-linksread","tag-mastodon"],"_links":{"self":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/comments?post=966"}],"version-history":[{"count":1,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/966\/revisions"}],"predecessor-version":[{"id":967,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/966\/revisions\/967"}],"wp:attachment":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/media?parent=966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/categories?post=966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/tags?post=966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}