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consider the state of earthquake preparedness of the Tokyo Stock Exchange. The TSE computer is housed in a Tokyo neighborhood that was completely destroyed in 1923. I asked a panel of four TSE officials what would happen if their computer were lost in a major earthquake. “Ha,” said the spokesman for the group, as if he had caught me flat-footed, “we have a backup computer.” “Where?” I asked. “Next to the main computer.” Sure enough, as easy as it would be to store a spare copy of TSE records outside of Tokyo, there are no official records of ownership outside of that one building.
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