Indlela abayidale ngayo i-Housing Boom kunye neBust
I-tranche iyisiqwenga sesithwathwa semali-mboleko. Kukuvumela ukuba utyalomali kwisabelo kunye nemingcipheko efanayo kunye nemivuzo. I-Tranche igama lesiFrentshi kwinqanaba.
Amabhanki athabatha imali yokubuyisela imali ekuthengiseni imali kwimarike yesibini. Oko kubizwa ngokuba ngumkhuseleko wenkxaso-mboleko . Uninzi lweempahla zenziwa ngama -mortgages rate rate . Imali nganye yokubolekwa kwemali inemivuzo eyahlukeneyo ngamaxesha ahlukeneyo. Umboleki uhlawula i-"teaser" yezinga eliphantsi lentengo kwiminyaka emithathu yokuqala kunye namazinga aphezulu emva koko.
Umngcipheko wokusilela ungancinci ngeminyaka emithathu yokuqala ukususela kumanqanaba aphantsi. Emva koko, umngcipheko wokusilela ungaphezulu. Kungenxa yokuba amaxabiso aya kunyuka, okwenza kube kubi kakhulu. Kwakhona, abaninzi ababolekayo balindele ukuba bathengise indlu okanye bahlaziywe ngomnyaka wesine.
Abanye abathengi be-MBS babe nokuba nomngcipheko ophantsi kunye nezinga eliphantsi. Abanye bangathanda ukuba babe nezinga eliphezulu ukubuyisela umngcipheko ophezulu. Amabhanki atyathele i-securities ibe yi-tranches ukuze ahlangabezane nale mifuno-mali. Batshengisa iminyaka engaphantsi kwengozi kwi-tranche ephantsi, kunye neminyaka eyingozi kakhulu kwi-tranche ephezulu. Imboleko enye ingasasazeka kwiinkalo eziliqela.
U mzekelo
I-movie Enkulu imfutshane inikeza imizekelo ekhangayo yendlela i-tranches isebenza ngayo njengomdlalo we-Jenga. Ichaza indlela iBoneyfield Fund eyenze ngayo imali ngokukhawulela i-AA tranches ye-MBS.
Imbali
Ngama-1970, uFannie Mae kunye noFreddie Mac babenezobambiso zokubambisa imali.
Okokuqala, bathenga iimali-mboleko ebhanki. Oko kukhulula ibhanki ukwenza utyalo-mali olongezelelweyo kwaye kwavumela abantu abaninzi ukuba babe ngabanini.
Ngo-1999, ihlabathi elikhuselekileyo nelingalindelekanga lokubhanka liguqukile ngonaphakade. ICongress yatshitshisa i- Glass-Steagall Act . Ngokukhawuleza, iibhanki zazingenayo i- hedge funds kunye nokutshala kwiimveliso eziyinkimbinkimbi.
Kwimveliso yebhanki yokhuphiswano, abo baneemveliso ezinzima zemali benza imali eninzi. Bathengela amabhanki amancinci, anqabileyo. Iinkonzo zezezimali kunye nezindlu zaqhuba ukukhula koqoqosho lwe-US ukuya ngo-2007.
kwixabiso layo. Yimveliso yezemali ixabiso layo elisekelwe ngokukhawuleza kwixabiso leemali zokugcina imali ezisekela ukhuseleko. Eli xabiso lugqitywe ngumzekelo wekhompyutha.
Abafundi abaphumelele kwiikholeji abaye baqulunqa le miboniso yekhomputha baziwa ngokuba ngama-jocks. Babhala iinkqubo zeekhompyutheni eziye zazimisela ukubaluleka kokhuseleko oluxhaswa ngemali.
Iimarike zanikezela iibhanki ezenza iimveliso zezemali eziyinkimbinkimbi kakhulu. Iibhanki zihlawulela i-jocks yamanani eyenza iikhompyutheni zekhompyutheni eziyinkimbinkimbi. Bawahlula ukhuseleko oluxhaswa ngemali kwiingxowa ezithile. Zilungiselela i-tranche nganye ukuya kumaxabiso ahlukeneyo kwi-mortgage rate rate. Izibambiso zaba nzima kangangokuthi abathengi abanakukwazi ukucacisa ukuxabisa kwabo. Kunoko, baxhomekeke kubuhlobo babo nebhanki ethengisa i-tranche. Ibhanki incike kwi-quantity jock kunye nekhompyutheni yekhompyutha.
Mngcipheko
Ukucingwa phantsi kwayo yonke imodeli yekhompyutheni kukuba ixabiso lezindlu lalihlala likhuphuka. Kwakuyimfuneko yokuphepha kuze kube ngo-2006.
Xa amaxabiso asekhaya awa, ngokunjalo ixabiso leentsimbi, ukhuseleko oluxhaswa ngemali, kunye noqoqosho.
Xa amaxabiso ezindlu ayehla, akukho mntu wayazi ixabiso lentsimbi. Kwakuthetha ukuba akukho mntu onokuyithengisa ukhuseleko lokuxhasa imali.
Iimarike zesekondari zikhulule iibhanki ekuqokeleleni kwimali-mboleko xa zihlawulwa. Bathengise kwabanye abatyala-mali. Ngenxa yoko, iibhanki zazingakhange ziqeqeshwe ngokubambelela kwimilinganiselo yokuboleka. Benza iimboleko kubbolekayo ngamanani amanqaku angenakutyala. Le mboleko yesondlo yayibanjwe kwaye ivuselelwe njengengxenye yerhafu ephezulu. Abatyalomali abafuna ukubuyisela okunye ukubuyisela. Ekuqhubeni ukwenza inzuzo ephezulu, abazange baqaphele ukuba kukho ithuba elihle lokuba imali ayiyi kubuyiselwa. I-arhente ye-credit rating, njenge- Standard & Poor's , yenza izinto zibe zibi nakakhulu.
Babala ezinye zee-AAA, nangona babenemali ebuncinci.
Abatyalomali nabo bahlelwe ngokuthenga iziqinisekiso, ezibizwa ngokuba yi- default default swaps . Iinkampani zomshuwalense ezinokwethenjelwa, njenge- AIG , zithengisa i-inshurensi kwi-tranches enobungozi njengawo nawuphi na umkhiqizo womshuwalense. Kodwa i-AIG ayinakucinga ukuba zonke iimali zokugcina imali ziya kuhamba ngezantsi ngeli xesha. Umshuwalense wayengenayo imali ekhokhayo ukuhlawula yonke i-default swaps. I- Federal Reserve yayibhaqa ukuze ihlale ingabikho phantsi.