Yintoni eyabangela ukuba iCrisis Mortgage Crisis?

by Kimberly Amadeo

Inkcitho ye-subprime mortgage yabangelwa yi-hedge funds, amabhanki kunye nenkampani zomshuwalense. Iibini zokuqala zenza i- mortgage-backed securities . Iinkampani ze-inshorensi zazigubungela nge-default swaps. Ukufunwa kweemali zokubanjiswa kwemali kubangele ukuqhuma kwempahla kwizindlu.

Xa i- Federal Reserve iphakamisa izinga lokunyusa imali , ithumele ukulungiswa kwemilinganiselo yokubambisa imali . Oko kwathumela amanani asekhaya ukunyuka, kunye nabbolekayo. Iziganeko ezenzileyo zazisasaza ingozi kuzo zonke ikhonkco zehlabathi. Oku kubangele inkxalabo yebhanki ka - 2007, ingxaki yemali ka - 2008 , kunye neRest Recession . Yadala i-worcession ngokweqile ukususela kwiNkxwaleko enkulu .

01 I- Hedge Funds yadlala indima ephambili kwiCrisis

Iimali zeHedge zihlala ziphantsi koxinzelelo olukhulu ukukhupha i-market . Bakha isidingo sokubambisa izibambiso ezixhaswe ngemali ngokubambanisa ngeziqinisekiso ezibizwa ngokuba yi- swaps default swaps . Yintoni e ngahambi kakuhle? Akukho nto, ade iFed iqale ukuphakamisa amazinga omdla. Abo bahlelwe ngemilinganiselo yee-mortgages abanako ukwenza le ntlawulo ephezulu. Imfuno yawa, ngokunjalo nezindleko zezindlu. Xa bengenakukwazi ukuthengisa amakhaya abo, nokuba, bahlala bengenakuhlala. Akukho mntu unako ukulinganisa, okanye ukuthengisa, iziqinisekiso ezingenanto. Kwaye i- AIG yaphantse idibanise ukuzama ukufihla i-inshorensi.

Inkathazo yempesheni yemali ehlawulwayo yabangelwa nokutyunjwa . Ngowe-1999, iibhanki zavunyelwa ukuba zisebenze njengemali yokulwa. Baye batyale imali kwiimali zeefomethi ngaphandle kweemali zemali. Yilokho eyabangela iNkcenkceshelo yokuSindisa kunye neNgxowa-mali ngo-1989 . Abaninzi ababolekayo basebenzisa izigidigidi zeedola ukuze bacele i-legislatures yombuso ukuphucula imithetho. Leyo mithetho yayiya kubakhusela ababoleke ekutheni bathathe imali ebengenako ukuyifumana.

Iziphumo ezi- 02 zikhupha iCrisis -prime Crisis

Amabhanki kunye neengxowa zemali zenza imali eninzi zithengisa izibambiso ezixhaswa ngemali-mboleko, ngokukhawuleza zenze imfuno enkulu yemali ephantsi. Yiloo nto eyabangela ababolekisi bemali mboleko ukuba bahlale bezantsi kunye namazinga aboboleki abatsha.

Ukubambisa izibambiso ezixhaswe ngemali kuvumela ababolekisi ukuba bathengise imali mboleko kwiipakethe baze bathengise kwakhona. Ngeentsuku zemali-mboleko yesiqhelo, oku kubangela ukuba amabhanki abe nemali engaphezulu yokuboleka. Ngokuza kweemali-mboleko kuphela, oku kwadlulisela umngcipheko wokuboleka umboleki-mboleko xa ireyiti yemali isetyenziselwa kwakhona. Ngethuba nje ikarhwebo lezindlu liqhubeka likhula, ingozi yayincinci.

Ukufika kwemali-mboleko yenzalo kuphela ehlangene neemali ezixhaswe ngemali-mboleko kwenzile enye ingxaki. Bongezelela kakhulu ukuthengiswa kweemarike ukuba kwakha indawo yokuhlala.

03 I- Subprime kunye neNzala-kuphela Ama-Mortgages Musa ukuxuba

Ababolekisi be-Subprime ngabo bafumana imbali yeentengo zemboleko kwaye ngenxa yoko banako ukungafi. Ababolekisi bavame ukuhlawula amaxabiso amanqanaba aphezulu ukuba banikezele ngokuphindaphinda umngcipheko omkhulu. Ngokuqhelekileyo, oko kwenza ukuba kubi kakhulu kubaboleki abaninzi be-subprime ukwenza iintlawulo zenyanga.

Ukufika kwemali -mboleko yenzalo kuphela kwandinceda ukunciphisa iintlawulo zenyanga ukuze ababoleki be-subprime bakwazi ukuzifumana. Ukwandisa umngcipheko kubabolekisi, nangona kunjalo, kuba amaxabiso okuqala aphinde asetyenziswe emva kweyodwa, emithathu okanye emihlanu iminyaka. Kodwa imarike yokunyuka kwezindlu yathuthuzela abathengisi, abacinga ukuba umntu obolekayo angayithengisa indlu kwindleko ephezulu kunokuba ikhona.

04 Iingcamango ezimbini ezimbini malunga Nokuba Yintoni eyenza iCrisis

UFannie Mae kunye noFreddie Mac babengamashishini axhaswe nguRhulumente abaye bathatha inxaxheba kwiingxaki zemali. Basenokuba benza okubi nakakhulu. Kodwa abazange babangele. Njengezinye iibhanki ezininzi, babanjwe kwizenzo ezazidala.

Enye inkolelo kukuba uMthetho woLuntu wokuThengisa kwakhona udale inzima. Kungenxa yokuba iqhube ibhanki ukuboleka ngakumbi kwiindawo ezihluphekileyo. Kwakuyigunya layo xa lenziwe ngowe-1977.

Ngo-1989, i- FIRREA yomeleza i-CRA ngokupapasha iirekhodi zokuboleka iibhanki. Yavimbela ukuba bandise ukuba bengayithobeli imigangatho ye-CRA. Ngo-1995, uMongameli uClinton wabiza abalawuli ukuba baqinise ngakumbi i-CRA.

Kodwa, umthetho awufunekanga ukuba amabhanki enze iimali-mali eziphantsi. Abazange bacele ukuba banciphise imilinganiselo yabo yokuboleka. Benza oko ukudala iziphumo ezongezelelweyo ezinenzuzo.

05 Iimfanelo zeMatyala

Amabhanki ahlawulela amatyala kwiimfumba abaza kuthenga ngazo. Ifoto: Michael A. Keller / Fuse Fuse

Umngcipheko wawungagcinwanga kuphela kwii-mortgage. Zonke iintlobo zamatyala ziphinde zenziwe kwaye ziphinde zongezwe njengezibophelelo zetyala . Njengoko amaxabiso ezindlu ayehla, abaninzi abanini bezindlu abasebenzisa amakhaya abo njengemishini ye-ATM bafumana ukuba abanako ukuxhasa indlela yabo yokuphila. Ukungaphumeleli kuzo zonke iintlobo zeetyala zaqala ukunyuka ngokukhawuleza. Abanini be-CDO ababandakanyi kuphela ababolekisi kunye neengxowa zemali. Kwakhona ziquka iinkampani, iimali zempesheni kunye nemali . Oku kwandisa umngcipheko kumntu ngamnye .

Ingxaki yangempela ngama-CDO kukuba abathengi abazange bazi ukuba baxabise. Esinye isizathu sasinzima kakhulu kwaye sitsha. Enye yayikuthi imarike yesitokisi yayikhula. Wonke umntu wayephantsi kwengcinezelo eninzi yokwenza imali ababevame ukuthenga le mveliso esekelwe ngaphezu kwegama lomlomo.

06 Emva koko iHlitshulo elincinci kwiMpahla yeeNdawo eziThuthileyo zenze iNtlekele

Yonke i- boom ihamba . Ngo-2006, amaxabiso ezindlu aqala ukuhla. Xa ababolekisi be-subprime bengenakuzithengisa izindlu zabo ngexabiso eliphezulu, baphoqeleka ukuba bangagqibekanga. Akwazanga ukufumana nabani na oza kuxoxisana nokuhlala. Amabhanki aye aphinde ahlawule kwaye athengise imali. A

07 Elandelayo: Indlela i-Subprime Mess Spread to Industry Industry

Uninzi lwabathengi bee-CDO beebhanki. Njengoko ukulungiswa kokuqala kwaqala ukunyuka, amabhanki akakwazanga ukuthengisa ii CDO, kwaye ke wayenayo imali encinane yokuboleka. Abo babenemali abazange bafune ukuboleka kwiibhanki ezinokuthi zenzeke. Ekupheleni konyaka we-2007, i-Fed kufuneka ihambe njengongeniso-mali wokugqibela. Ingxaki yayifike isangqa esipheleleyo. Esikhundleni sokuboleka imali ngokukhululekile, iibhanki ziboleke kakhulu, kubangela ukuba imakethe yezindlu iyancipha.