Top 10 worst IT disasters of all time

Following the loss of the personal records of some 25 million child benefit recipients by Her Majesty's Revenue & Customs this month, the UK government will be acutely aware of how quickly mismanagement of technology can lead to serious problems. While technology wasn't to blame per se in the HMRC data loss, there are plenty of recorded examples where faulty hardware and software have cost the organisations concerned dearly, both financially and in terms of reputation -- and resulted in some near misses for the public.

Here's our considered list of some of the worst IT-related disasters and failures. The order is subjective -- with number one being the worst -- so feel free to comment using the Talkback facility below if you disagree or have suggestions for disasters we may have missed.

View: Full Article @ ZDNet

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People made a ton of money off of the Y2K crap. However, had nothing happened in terms of patching, we will never know the impact. I do remember them saying 2 things happened at the turn of midnight - 1) A Russian satellite shut down and 2) A swiss bank account had a bunch of money thrown in to it because of some account number/date stamp issue.

So one will never know.

Strangely enough, I was thinking about the Y2K bug the other day, and in particular things like these. I'm not sure why a simple BIOS update couldn't have worked, but I am sure a lot of people made a lot of money from the panic surrounding Y2K.