Earlier quoted context omitted.
Shell script is memory safe too, but you don't write anything longer than 100 lines in it for a reason.
When you bank, COBOL (40% of online banks). When you use the ATM, COBOL (95% of ATM transactions). When you travel, COBOL (96% of airline ticket bookings). Healthcare, COBOL. Social Security, COBOL. Point of Sale, COBOL. IRS, COBOL. Pension funds? COBOL. Hotel bookings? COBOL. Payroll programs? COBOL. It is estimated that there is 800 billion lines of COBOL code in production systems in daily use. That is a bit more…
> army of engineers sat down and rewrote it all in the nick of time.
No way did all get rewritten. Where source was available, fixes were applied and systems retested.
True drama ensued for programs for which the source was no longer obtainable.
The company I was at during that time had programs that had been in production since at least 1960.
The other effort that took place was attending to the systems during the midnight boundary with everybody either in the office or on call.
The other strong observation was that the risks were very much not understood, with exaggerations both extreme and dismissive. Also not discussed in the popular press at the time was the extent that most of these systems were not truly totally automated.