MunaAgasti 2012, Treasury yakasarudza kuti inotumira vose Fannie naFreddie kuti vabatsirwe mune mari yakawanda. Kubvira panguva iyoyo, kubhadhara mari yakabhadharwa nechinangwa.
Kufuridzira kwaFennie naFreddie kwaive kwakakura kudarika muna 1989 kuponesa uye kukwereta kwemari, iyo "chete" inodhura vateresi $ 124 mabhiriyoni. Yakanga iri pairi nebhailout yakatevera yaAIG , yakatanga pa $ 85 biliyoni asi yakakura kusvika $ 150 biliyoni. Zvose idzi dzakanga dziri duku mbatata yakaenzaniswa ne $ 700 bhiriyoni yebhailout ye US banking system, kunyange zvazvo chete $ 350 mabhiriyoni ayo akamboshandiswa.
Basa rekuchengetedza basa rakachengeta Fannie, Freddie, uye musha wemuAmerica, kushanda. Yakafanirwa kuva yenguva pfupi, asi hupfumi hahuna kubudirira zvakakwana kubvumira hurumende kutengesa zvikamu zvayo uye kudzoka Fannie naFreddie kune vega voga.
Chii Chakakonzera Kubhadhara
Fannie Mae naFreddie Mac vaiva mabhizimisi maviri aibhadharwa nehurumende akatenga zvikwereti kubva kumabhangi, chirongwa chinozivikanwa sekutenga pamusika wechipiri .
Vakapakata izvi muzvikwereti zvinotsigira mari, uye vanozvitsvaira kune vashandi veWall Street. Iro yose yezvemari inofanirwa nekuvimba. The subprime mortgage crisis yakaparadza.
Fannie Mae naFreddie Mac vaiva mabhizimisi maviri anotsigirwa nehurumende akasika, uye akaramba achibatanidzwa zvikuru, mumusika wechipiri wemari yekuchengetedza mari.
Pamberi pepa subprime mortgage crisis, vainazvo kana kuti vakapa $ 1.4 trillion, kana makumi mana kubva muzana, yeUnited States mari. Ivo chete vakabata $ 168 mabhiriyoni mu subprime mortgages , asi zvakange zvakakwana kuti vadzivirire vaviri vacho. Vaya vaviri veGSEs vaitsigira pamusika wechipiri, iyo yakabatsira mhuri dzeAmerica kuziva chiratidzo cheimba yeimba. Asi ivo vakabatsirawo kutendeuka kurota uku kuva usiku hwere subprime mortgage crisis. Izvo zvakatungamirira kumatambudziko emari muna 2008 uye zvakaita kuti Great Recession .
Hurumende yakaedza kudzivisa kutora maGSEs maviri, ayo aifanirwa kuita semakambani ari oga nehurumende yevimbiso. Izvo zvakagadzirirwa hazvina kushanda uye yaiva chikamu chechinetso. Fannie naFreddie vakatora njodzi dzakawandisa kuti vawedzere matengo avo emitengo, vachiziva kuti vaizobviswa kunze kwekuti njodzi dzaizodzokera kumaodzanyemba.
MunaAugust 2007, Fannie Mae akazivisa kuti ichadarika chikwereti chechikwereti chekwereti kwekutanga kubva muna May 2006. Vatengesi vakaramba kunyange zvikwereti zvakakosha zvekubhadhara zvikwereti zvinopiwa neGSEs. Vazhinji vatyairi vemari vaifunga kuti Fannie aine mari yakakwana kuti aite kuti ikamirire kusvikira misika ichivandudzwa. Pakazosvika November 2007, Fannie akazivisa $ 1.4 biliyoni kurasikirwa kwegore negore ndokuzivisa kuti yaizoshandisa $ 500 mamiriyoni mune mari itsva.
Freddie akabva ataura $ 2 bhiriyoni kurasikirwa, kutumira mutengo waro wekutengesa pasi 23 muzana.
Musi waMarch 23, 2008, federal regulator yakanganisa kubvumira Fannie naFreddie kutora imwe $ 200 mabhiriyoni mu subprime mortgage chikwereti. Vaya vaviri veGSEs vakanga vachiedza zvikuru kuwedzera mari yakakwana kuti vazvichengetedze. Munhu wose panguva iyoyo akafunga kuti dambudziko re subprime rakanga risina kurega kune zvivako uye raizozvigadzirisa nokukurumidza. Zvichida vakanga vasingazivi kuti zviwanikwa zvakabudisa subprme mortgage kubva kune zvakakwana munyika yose yezvemari. Sezvakazoitika, iyi yaiva imwe $ 200 mabhiriyoni iyo hurumende yaifanira kubhadhara gare gare gore iroro.
Musi waMarch 25, 2008, Federal Federal Loan Bank yakabvumidza kubvumira nzvimbo dze Federal Federal Loan Banks dzinotora mari yakawedzerwa $ 100 bhiriyoni muzvikwereti zvekubhadhara mari kwemakore maviri anotevera.
Fannie naFreddie vakavimbisawo zvikwereti zvakare. Muvhiki imwechete, maGSE maviri aive ne $ 300 mabhiriyoni muzvikwereti zvakashata zvakawedzerwa kumashizha avo akashanduka. Sangano reState Reserve rakabvuma kutora madhora mazana maviri emadhora mabhiriro emari kubva kune vatengesi (chaizvoizvo, hedge mari uye mabhengi ekutsvaga) mukutsinhanisa mari yeHarare . Pakupedzisira, asi kwete zvishoma, Fed yakanga yatove inokonzera $ 200 mabhiriyoni mumabhengi kuburikidza neCom Auction Facility. Mune mamwe mazwi, hurumende yeHerald yaive yakapa $ 730 mabhiriyoni mu subprime mortgages, uye bhengi bhailouts yakanga ichangotanga.
Musi waApril 17, 2008, Fannie naFreddie vakawedzera zvipiro zvekubatsira rubatsiro rwevanhu vanotora chikwereti kuchengeta dzimba dzavo. Fannie Mae akawedzera basa rakazonzi HomeStay, apo Freddie akashandura chirongwa chayo chinonzi "HomePossible." Izvo mapurogiramu akapa vakwereta nzira dzekubuda kubva pasi pekugadziriswa kwemarenda mashomanana musati mitsva yezvibereko ikasarudzwa pane imwe yepamusoro uye inobhadhara mwedzi pamwedzi isingagoneki. Zvinosuruvarisa, zvakanga zvisinganyanyi uye zvakanyanyisa.
Musi waJuly 22, 2008, Munyori weHurumende yeUnited States VaHenry Paulson vakakumbira Congress kuti vabvumire mutemo unobvumira Dhipatimendi reMariki kuti ive nechokwadi che $ 25 mabhiriyoni mu subprime mortgages yakaitwa naFannie naFreddie. Vaviri veGSEs vakabata kana vakavimbisa mari inopfuura $ 5 trillion, kana hafu, yemari yezvemari. Iko $ 25 mabhiriyoni ehutano yaive yakawanda yekusimbisa vatengesi. Yakashanda kwenguva refu. Vashandi veWall Street vakapfuurira kuputsa matengo eGSEs, kusvikira vasakwanise kusimudza mari yaidiwa kubhadhara chikwereti chavakachengetedza. Wall Street yaive yakawanda zvokuti yakagamuchira kuti $ 25 biliyoni inokonzerwa nehurumende yeHerald yakanga isingakwanisi. VaStockholders vaida kunze kwekuti hurumende isarudze Fannie naFreddie uye vakaita kuti mari yavo isabatsire.
Wall Street inotya kuti zvikwereti izvi zvichange zvisiri izvo zvakatumira chikamu cha Fannie naFreddie vachiderera. Izvo zvakava zvisingabviri kuti makambani ega ega akwanise kusimudza mari yakawedzerwa inodiwa kuvhara zvikwereti. Vanhu vazhinji havazivi kuti chikwata chaJuly chikabatanidza zvakare:
- $ 3.9 mabhiriyoni mumabhadharo eCDBG kubatsira varidzi vemunharaunda munzvimbo dzakashata dzakapoteredza.
- Kugamuchirwa kweDhipatimendi reMariko kutenga zvigaro zveFannie uye Freddie's stock kuti atsigire mitengo yematengo uye achibvumira vaviri kuti varambe vachiwedzera mari mumusika wega.
- Kubvumirwa kweSweden Housing Administration kuvimbisa $ 300 mabhiriyoni muzvikwereti zvitsva kuchengetedza varidzi vedzimba mazana mana kubva kunze.
- Inenge madhora madhora mabhiriyoni gumi nemadhora emabhadharo emitero, kusanganisira chikwereti kusvika kusvika ku $ 7 500 nokuda kwevatengi vekutanga.
- Kuwedzerwa kwemiganhu yepamutemo pane chikwereti chenyika ye $ 800 mabhiriyoni, kusvika ku $ 10.6 triliyoni.
- Sangano idzva rinotungamirira kusimudzira Fannie naFreddie, kusanganisira mahedheni ekubhadhara.
Nhepfenyuro Munyori Paulson aida kutsigira mari dzekutengeserana kuti mabhengi aive akavimbika pasinei nokukundikana kweIndyMac Bank.
Paulson akaonekwa paTV. Akanyevera kuti hupfumi hwaizopfuura nemwedzi yakaoma nguva. Sezvazviri, zvinenge zvakave makore ematambudziko. Akabvuma, "Matambudziko makuru matatu atinotarisana nawo iye zvino ndeokuti, kutanga, kugadziriswa kweimba iri pamwoyo wekuderera kwekupedzisira, chechipiri, kupesana kwemisika yepamusoro; uye chechitatu, mutengo wemafuta akakwirira , ari kuenda kuti iwedzere kuderera. "
Zvisinei, akawedzera "... hupfumi hwedu hwakave nehutano hwakasimba kwenguva refu, hutsika hwakasimba. Uye iwe unoziva, vatoita vatoti pano, vatongi, isu takangwaririra zvikuru." Zvinosuruvarisa, vaifanira kunge vakangwarira makore akawanda zvisati zvaitika, apo zvinyorwa zvepa subprime zvaive kutengwa uye kutengeswa mumusika usina kutarisirwa.
Pasinei nebhailout, mari yekubhadhara yakaramba ichiwedzera. Nenguva yaAugust 22, 2008, mutengo wemakore makumi matatu ekubhadhara mari waiva 6,52 muzana. Icho chaive chema 30 kubva muzana kubva munaKuguru uye zvakafanana negore rakapfuura. Mari inosvika pasinei nekuderera muzvikoro zveUnited Treasury bond . Izvo zvakawira sevatengesi vakatizira kune zvakachengeteka zvehurumende-zvakasungwa zvisungo. (Bond inoburuka inowira apo kudiwa kwechibvumirano chinowedzera.)
Fixed mortgage rates inonyanya kutevera iyo yeHaimari yezvisungo zvibereko, sezvo rudzi rumwechete rwevatengesi vakaita sevaviri. Sezvo Fannie naFreddie vanga vari mumatambudziko, vatengi vemari vaishamwaridzana nekutengesa mishonga, uye vakasarudza Pfuma panzvimbo. Nokudaro, mari yekubhadhara mari yakasimuka, uye Treasury inobereka yakawa.
Izvozvo zvakamanikidza Paulson kuparadzanisa Fannie naFreddie. Rudzi rwehurumende rwaireva kuti Mari yeHurumende inotora pamusoro peGSE zvachose, zvichida kuparadza pfuma yevatori vemari. Fannie naFreddie mutengo wematengo vakanga vachiderera nekuda kwekutya kwekusimudzira. Izvo zvakangoita kuti zvive zvakaoma kuti GSE iwedzere hukuru, nokudaro kuumba uprofita huri kuzadzika. Icho chisarudzo chaizova cheMariki yekutanga kuchengetedza mari yakawanda yemari kune imwe kambani yega yega. Izvozvo zvingaita kuti vanochengetedza vanofara asi vachengetedze zvakasarudzwa zvakagadzirwa neBest Reserve Reserve ya Bear Stearns .
Mabhengi mazhinji akanga achiri munjodzi sezvo ivo vanewo mari yakawanda ye $ 36 biliyoni mumakwikwi akawanda aFannie naFreddie. Izvi zvakava zvisina maturo apo hurumende yakatora danho rinotevera, kuisa maGSEs mukutora.
Hurumende yeHurumende yakapinda mukudzorera iyo kuvimba nekuvimbisa kubhadhara zvikwereti zvakaipa. Zvaireva kuchengetedza dzimba dzichibva pakuwedzera. Zvinosuruvarisa, zvose zvakabhadharwa neHurumende yeUnited States, iyo yakanga yatova ne $ 9 trillion yenyika yose . Zvechokwadi, urongwa hwokubvumira kuti chikwereti chikwereti chikweredzwe kudarika $ 10 triloni chakabvumirwa kuti ndiani akanyatsofambisa mutemo wekubhadhara. Zvinokonzerwa nenyika yose pamusoro pekusimudzirwa kwechikwereti cheUnited States zvakaramba zvakanyanya kudzvinyirira pariyoni. Zvisinei, dambudziko guru kubva kune chikwereti che eurozone chakaita kuti ndege iende kunzvimbo yakachengeteka. Apo nyika iri mukutambudzika, dhora rinotarisa rakasimba, pasinei nekodzero yakareba-ku-GDP kuwirirana kweUnited States. (Chinyorwa: "Fannie Mae Haasi Nhoroondo Yezvinyorwa Zvinyorwa muna August," Web Site ya Fannie Mae, yaAugust 20, 2007. "The Cracks Are Spreading," The Economist, November 21, 2007. "House OKs Rescue For Nurses, Freddie, Fannie , "Associated Press, Chikunguru 23, 2008." Paulson Braces Public kweMwedzi yeTough Times, "Associated Press, musi waJuly 21, 2008.)