You see, most folks don't understand what the Y2K problem was (well, not in enough detail to be able to figure out where the problems might be). So people thought up this nifty "Y2K Compliance" thing. Slap the label on, and nobody needs to know anything more. Everyone can disengage their brains, because mentally everything is in the "problem solved" bucket.
Regulations are like that, almost all the time. Most people don't particularly care about the issues, they just want to be able to tick the box. This explains why most government regulations are a waste of time.
For the sake of argument, let's assume that most regulations have a core problem, and that at some point someone who actually understood that problem thought up the regulation. The problem is that the regulations get handed off to the private sector to comply with, and nobody in the private sector really cares about the original problem.
The care about the check box.
And the regulation now is enforced by a bunch of bureaucrats who don't understand the original problem, either - they're just looking to make sure that the check box was checked.
In other words, nobody understands the original problem anymore, and nobody cares. All anyone is trying to do is avoid blame: Hey, we were compliant. What more do you want?
Now add in that the chances of getting someone at a government agency (or God forbid, in Congress) to actually understand the original problem, and craft a well thought out regulation addressing it, and you can pretty well kiss any chance of solving the actual problem goodbye.
But lots of people are employed in the private sector in Corporate Governance teams, and in government agencies, all being busy checking and re-checking the boxes.
And so, let me say definitively: this blog is entirely Y2K compliant. It even has a nifty checkbox graphic logo that I stole somewhere on Al Gore's Intarwebz. So relax. Turn off your brain. All is for the best, in the best of all possible worlds.