Enye iWall Street Meltdown
I-Republican Senator Phil Gramm uncede ukubhala nokugqithisa uMthetho we-Gramm-Leach-Bliley Act ka-1999 owawususa i-Glass-Steagall Act. Omnye umdlali oyintloko waba nguSihlalo we-Federal Reserve u-Alan Greenspan, owayengummeli we-banregulation bank.
Emva kokutshitshiswa kwe-Glass-Steagall, ukuhaha kwaphumelela ngokuqaphela kunye neebhanki zithatha ingozi enkulu kwimali ye-depositors. Phakathi kuka-1999 no-2008, iWall Street yaba yinto encinci njengezithili zemali ezenziwe yinkampani kunye ne-Las Vegas Strip. Nokuba umgaqo owakhona wawubonakala ungasebenzi.
Umthetho-mali ohlaziyiweyo wezezimali ovezwe ngu-Obama Administration ngowokuqala, ngokuthintela ukuwa kwesinye iifemu zeWall Street kunye nokulawula kwakhona imboni yezezimali ukuya kwinqanaba elithile.
IziNgcaciso, i-Securitization kunye neBlue Bubble
Imarike yezindlu, ngaphambi kokuba iRest Recession, iqhutywe phambili kwi-steam phambili kwaye ababolekayo abanako ukufumana imali enkulu yokubolekwa kwezindlu eziboleke imali.
Iibhanki ezinkulu zibeka ezi zibophelelo ndawonye kwiiphakheji zeemali okanye iziphumo ezibizwa ngokuba yi-default default swaps, eyaba yinto eyingozi leyo esiyiva emva koko. Iimarike ezithengiweyo azilawulwayo ukuze ibhanki idibanise kwaye idibanise le mboleko yemakhaya kwiipakethi zezinto ezivela kuyo malunga nayiphi na indlela abayifunayo.
Faka iSenator Phil Gramm kwakhona. Ngo-2000, iSenator Gramm ibonelela kumthetho owadlulileyo, uMthetho weModity Futures Modernization Act, ukukhupha i-credit default swaps kumgaqo.
Isiqhwithi esipheleleyo siphumelele ngento ebizwa ngokuba yi-sub-prime mortgages. Kwaye abo bantu abazange bafanelekele ukufumana imali ephezulu yokubanjelwa kwemali baqale ukuvunywa kulawo mabhondi. I-Mortgage yelizwe lonke kunye nomsunguli wayo, uAngel Mozilo, wayengomnye wabonakele kakhulu. Ukuchazwa kwendabuko efunekayo kubakhomali kwakungadingeki kwaye kwilizwe lonke lenza i-mortgages malunga nabani na abahamba emnyango. UDick Fuld, owayengumcebisi weLehman Brothers xa ehlulekile, watyala imali eninzi kwimali ephantsi kwemali efana neye-arhente karhulumente, u-Fannie Mae noFreddie Mac. UFannie Mae kunye noFreddie Mac baphunyelelwa ngenxa yesigqibo. Lehman Brothers kwakukho ukusilela okukhulu kweenkampani zemali kwimbali.
Kwaba nabakhi bezindlu bangena kulo msebenzi. Bathengisa izindlu ngokukhawuleza njengoko babengazakhela kwaye abanye bancedisa ukuba abanini bezindlu bafumane iimali zokuthenga ngemali ngokuqamba amanga malunga neziqinisekiso zabo.
Kancinci, ababolekisi be-sub-prime baqala ukungagqibekanga kwiimali-mboleko ezingenakukwazi ukuzenza kwindawo yokuqala.
Yabeka iibhanki ezaziphethe imali eninzi yezi mboleko kwiindawo eziphathekayo zezemali njengoko zithintela ilahleko kwii-portfoliyo zazo.
Ukuxhaswa
Ukuze kuzinze iindawo ezinkulu kwiifom zeWall Street, ngenxa yokwesaba ukungaphumeleli kwazo, isibonelelo se-$ 700 billion sagcinwe isibonelelo, i-TARP ingxowa-mali. Isizathu se-TARP kukuba ukuvumela ezinye iifemu ezinkulu, njengeCitigroup kunye ne-AIG zihlulekile ziza kutshabalalisa uqoqosho. I-bill nowokuhlaziywa kweengxowa-mali ngokutsha ihlalutya irhafu kwiifisi ezinkulu ezidala iifund ukuze zisetyenziswe ukuba ngaba zikhona zizinzi. Le ngenye yeengongoma eziphambili zokungavumelani kumthetho-mali wokuhlaziywa kwemali.
Isilwayo sohlengahlengiso lwemali esicetywayo sichaza iimfuno ezinkulu kunye neentlawulo kwiibhanki ezinkulu, iimfuno ezazisetyenziswe phantsi kwe-Glass-Steagall Act.
Ikwacacisa nokuba iibhanki ezinkulu azikwazi ukuba netyala lokulingana kwamanani angaphezu kwe-15 ukuya kwe-1. Xa i-Wall Street ithoxiswa, ityala lokulingana kwamanani amabhanki amakhulu aphezulu kakhulu.
Iingxelo zeeNgxelo zeNkcitho kunye neMimiselo ekhoyo
Kukho umgaqo oshiyekileyo malunga namabhanki namanye amaziko emali nangona i-Glass-Steagall Act yachithwa. Sifanele sibuze apho i-arhente ezolawulo zikho ngexesha loxinzelelo, nangona kunjalo. Ngokomzekelo, iKomishoni ye-Securities and Exchange (i-SEC) inegunya lokucela ukuchazwa okubhekiselele kwinkqubo yokubambisa i-credit default swaps. Ngaphantsi komlawuli wangaphambili uChris Cox, akuzange.
I-Federal Reserve kunye ne-Federal Deposit Insurance Corporation (i-FDIC) ilawula iibhanki zentengiso okanye ivenkile. Bayiphi na xa la mabhanki enza iimali-mboleko zokubolekwa kwemali mboleko kubantu ababolekayo?
Abanye abadlali abalawulwayo i-arhente yokulinganisa i-arhente ezithengisa iintlawulo ezikhishwe ngamabhanki amakhulu. Kukho ii-arhente zokubambisa izibambiso eziphambili - iMody's, Standard and Poor's, kunye nama-Fitch Ratings. Banike iibhanki ezinkulu ezazibeka iiphakheji ezibolekileyo kunye kunye nokulinganiswa kwazo kweentengo zeebhanki nangona ixabiso eliyingozi elibandakanya iiphakheji zemboleko ziyingozi kakhulu. Kakade ke, ii-arhente ze-credit rating zihlawulwa yiibhanki eziziqesheyo ezibonakala zikhwaza ingxabano. Kuye kubekho intetho ethile yokuhlawulela i-arhente rating rating.
Ukuziphatha kunye nokuPhathwa koLuntu
Esinye sezikhalazo kukuba iibhanki ezinkulu zeWall Street azizange zisebenzise imigaqo yezemali . Esikhundleni sokwenza ingqiqo ngemali yokubeka imali, iibhanki ezinkulu zithengela abathengi bayo zisebenzisa i-credit default swaps ngexesha le-subprime housing mortgage crisis ukuze baxhamle inzuzo yesikhashana.
Ukuxhamla kwexesha elifutshane akufanele kube yinjongo yeso nasiphi na iqumrhu eluntwini. Ifom ye-public-traded has shareholders to satisfy. Abanikazi Bamasheya banelisekile ngokuphakanyiswa kwexabiso lesitokethi. Kubonakala ngathi iibhanki ezinkulu zeWall Street zazilibala oko ngaphambili nangethuba lokutshatyalaliswa kweWall Street. Icandelo lokukhulisa ubuncwane bomnini-nxaxheba kuluntu. Ukuba iinkampani ezinkulu azixanduva luntlalo, ekuhambeni kwexesha, aziyi kukwandisa intengo yabo yesabelo kunye nabanini-nxaxheba abanakufuna ukufumana isitoko sabo. Yiyo kanye eyenzekayo kwiibhanki ezinkulu ngoku.
Iikharityhulam zeYunivesithi sele ziguqukile ngenxa yeengxaki zemali. Izikolo zoshishino zibeka ingqalelo ebaluleke kakhulu kwiimveliso zoshishino nezemali. Mhlawumbi ukuba kukho ukugxininiswa ngakumbi kwiimigaqo-nkqubo zezekharityhulam kwixesha elidlulileyo, bekuza kuba nabaphathi bezemali abaye baqonda ukuba yiyiphi imilinganiselo yokuziphatha.
Kuya kuba lunomdla ukubona indlela ukuguqulwa kwemali kugubungela phantsi kweCongress. Olunye uhlobo lwemithetho yebhanki kufuneka ibuyiselwe endaweni efanelekileyo ukuze kufike ukuziphatha okubi kweebhanki ezinkulu phantsi kolawulo. Kukho indawo yeziphumo ezivela kwizoqoqosho, kodwa asikho kwiibhanki zethu.