Does anyone want to comment on why COBOL has a reputation of being good for critical stuff? Are there technical reasons for this, or is that just branding?
The "old" language which actually might deserve the "good for critical stuff" reputation is ADA.
Mainframes, especially modern ones, are pretty cool imo. The obvious downside is the high cost, which makes them very unappealing for startups.
There was a thread last week asking why cloud hasn't killed the mainframe, which I thought had some pretty good replies: https://news.ycombinator.com/item?id=37333837
So if you are (say) IT director in the bank, and you value your career, you should reject all attempt to modernize, as all failures would be blamed on you. Just say something about COBOL being most reliable and ask for more budget for contractors.