Ngaba Inkampani ingaba yiyona nto inkulu ukuba iphumelele?
Ulawulo lwe- Bush lwaluphakamisa eli binzana ngexesha leengxaki zemali ka - 2008 . Ichaza ukuba kutheni kufuneka ikhuphe ezinye iinkampani ukuphepha ukuwa kwezoqoqosho .
Ezi ziquka iifenimali zemali ezazithembele kwiimveliso ezifumanekayo ukufumana inzuzo yokukhuphisana xa uqoqosho lukhula. Xa imarike yezindlu yawa, utyalo lwazo lwalusongela ukuba lubolekele. Yilapho beba lukhulu kakhulu ukuba bangaphumeleli.
Imizekelo ye-Big Too ekupheleni kweeBhanki
Ibhanki yokuqala eyayinkulu kakhulu ukusilela kukuba yi- Bear Stearns . Ngomhla ka-Matshi 2008 i-Federal Reserve yenze i-$ 30 yezigidigidi ukuya kwi-JPMorgan Chase ukuthenga ibhanki-mali. Ibhere laliyi-bhanki encinci kodwa yaziwa kakhulu. I-Fed iyakhathazeka kukuba ukuphumelela kwe-Bear kungonakalisa ukuzithemba kwezinye iibhanki.
Lehman Brothers kwakuyi-bhanki yotyalo-mali. Kwakungekho nkampani enkulu, kodwa impembelelo yokutshatyalaliswa kwayo yayiyingozi. Ngo-2008, uNobhala wezeMali uNksz Hank Paulson uthe u-no ukuxhaswa kwayo, kwaye wafaka isicelo sokutyunjwa. NgoMvulo olulandelayo, i-Dow ilahle amaphuzu angama-350. NgoLwesithathu, iimarike zezemali zityhafile. Oko kwakusongela ukuboleka kwesikhokelo kubusuku obufunekayo ukuze kugcinwe amabhizinisi.
Ingxaki yayingaphaya komgaqo-nkqubo wezemali ongayenza. Oko kwakuthetha ukuba i-$ 700 billion yokukhutshwa kweebhiliyoni yayiyimfuneko yokubuyisela kwakhona iibhanki ezinkulu.
I-Citigroup ifumane i-$ 20 yezigidigidi ze-cash infusion kwi-Treasury. Ngenzuzo, urhulumente wathabatha iiliyali ezingama-27 ezizigidi ezikhethiweyo ezenza iikota eziyi-8 ezibuya ngonyaka. Kwakhona ifumene iimvume zokungathenganga ngaphaya kwe-5% yezabelo eziqhelekileyo zeCiti kwi-10 yeesabelo ngasinye.
Ibhanki yotyalo-mali uGoldman Sachs noMorgan Stanley nabo banzima kakhulu ukuba bangaphumeleli. I-Fed yawabhanqa ngokubanika ukuba babe yibhanki yorhwebo. Oku kuthetha ukuba bangaboleka kwiwindow yeSaphulelo seFed. Basenokungenelwa amathuba kwiiprogram ze-Fed ezongezelelweyo ezijoliswe kwiibhanki zentengiso. Okuphelile ngexesha lokubhankwa kwebhanki eyenziwa udumo yi-movie ethi "Wall Street". I-1980 mantra, " Ukunyanzela kulungile ," kwakuboniswa ngemibala yayo yangempela. Ukunyuka kwetrato eWall Street kwakhokelela kumhlawuli-ntlawulo kunye nentlungu yomnini.
UFannie noFreddie Mortgage Companies
Iimpahla ezinkulu, uFannie Mae kunye noFreddie Mac , babenzima kakhulu ukuba bangaphumeleli. Kungenxa yokuba baqinisekisa i-90 ye-mortgage esekupheleni konyaka we-2008. U-Nondyebo wenza imali eyizigidi ezingama-100 kwiimali zokubolekwa kwemali , ngokuqinisekileyo ebuyisela kubunini boorhulumente. Ukuba uFannie noFreddie beye bawayeka, imakethe yezindlu yayiye yawa. Kungenxa yokuba iibhanki aziyi kuboleka ngaphandle kwemigangatho karhulumente.
Inkampani ye-AIG Insurance
I- American International Group yayingomnye wabanini-bhankanyi abakhulu. Uninzi lwazo lwentengiso yendalo yomshuwalense. Xa ithe yangena kwi- credit default swaps yaba neengxaki.
Ukuba i-AIG yachithwa, iya kubangela ukungaphumeleli kweziko lemali ezithengile ezi swaps.
I-swags ye-AIG ngokubhekiselele kwi- subprime mortgages yayifaka kwi-bink ye-bankruptcy. Njengoko iimali zokubolekwa eziboshwe kwii-swaps ezingekho phantsi, i-AIG yaphoqelelwa ukuba ikhulise izigidi kwiinkunzi . Njengoko abagcini bempahla bafumana umoya, ba thengisa izabelo zabo, okwenza kube nzima ukuba i-AIG igubungele i-swaps. Nangona i-AIG yayinempahla eyaneleyo yokugubungela i-swaps, ayikwazanga ukuyithengisa phambi kokuba i-swaps ifike ngenxa. Okushiye ngaphandle kokuhlawulwa kwemali yomshuwalense wokutshintsha. (Umthombo: "US ukuthatha i-AIG," I-Wall Street Journal, Septemba 17, 2008.)
I- Federal Reserve yanikezela i-$ 85 yezigidigidi, umboleko weminyaka emibili ku-AIG ukunyusa uxinzelelo kwezoqoqosho jikelele. Ngokubuya, urhulumente wathola i-79.9 yeepesenti zokulingana kwe-AIG kunye nelungelo lokuthatha indawo yokulawula.
Kwakhona kwamkela igunya lokuvota phezu kwazo zonke izigqibo ezibalulekileyo, kubandakanywa ukuthengiswa kwempahla kunye nokuhlawula izabelo. Ngo-Oktobha 2008, i-Fed yaqesha u-Edward Liddy njenge-CEO kunye noSihlalo ukulawula inkampani.
Isicwangciso sasiyi-Fed ukuze siphule i-AIG kwaye sithengise iziqwenga zokubuyiselwa kwemboleko. Kodwa imarike yemasheya yanyuka ngo-Oktobha yenza loo nto ingenakwenzeka. Abathengi abanokwenzeka babefuna nayiphi na imali engaphezulu kwemali yamabhalithi. Isebe leNondyebo lithenge iiligidi ezingama-40 zama-AIG kwiindawo ezikhethiweyo ze- AIG kwiSicwangciso soPhuculo lweNtengo. I-Fed yathenga i-$ 52.5 yezigidigidi kwii -securities ezixhaswe ngemali . Iimali zavumela i-AIG ukuba ithathe umhlala-phantsi kwi- credit swaps yayo ngokwemali, iyalondoloze kunye noshishino oluninzi lwezimali. Ngaphezulu, jonga i- AIG Ukuxilonga .
Ukuphela Kakhulu Okungapheliyo
Umthetho we- Dodd-Frank Wall Street Reform Act wawungumngcipheko wezemali ogqithiseleyo ukususela kwi- Glass-Steagall Act . Yayifuna ukulawula iimarike zezemali kwaye yenze enye ingxaki yezoqoqosho ininzi. Yayimisela iBhunga loLawulo lokuSigxina kwezeMali ukukhusela nayiphi na ibhanki ukuba ibe yinto enkulu kakhulu ukuba ingaphumeleli. Njani? Ijongela ingozi echaphazela yonke imboni yezemali. Ikwajonganisa iifenki zezimali ezingekho ebhankini njengemali ye- hedge funds . Ukuba nayiphi na iile nkampani zikhulu kakhulu, zingancoma ukuba zilawulwe yi-Federal Reserve. I-Fed ingacela ukuba inyuse imfuneko yayo yokugcina indawo .
I- Volcker Rule , enye inxalenye yeDodd-Frank, inceda kwakhona ukuqeda kakhulu kunzima ukuhluleka. Inciphisa umlinganiselo wengozi enkulu ebhanki inokuthatha. Iyabalula ukuba bathengise kwii- stocks , iimpahla okanye iimveliso ezixhamlayo . Bangakwenza oko kuphela egameni labathengi babo, okanye ukucima umngcipheko wezoshishino.