Ko kambani inogona kunge yakanyanya kuva yakawanda kukundikana here?
Bhuku re Bush rinoparadzira chirevo ichi munguva yematambudziko emari muna 2008 . Inotsanangura kuti nei ichifanira kubhadhara dzimwe makambani kuti dzirege kuparara kwehupfumi .
Izvi zvaisanganisira makambani ezvemari ainge avimba nezvibvumirano kuti awane mukana wokukwikwidza apo hupfumi hwakanga huchiwedzera. Apo misika yemumba yakakoromoka, mari yavo yekutengesa yakavhiringidza kuti vaizoiisa pasi. Ndiko pavakanyanya kukura kuti vashayike.
Mienzaniso yeTo Big Kukundikana Mabhangi
Bhenji rekutanga rakanga rakakura kwazvo kuti risakundikana raiva Bear Stearns . Musi waMarch 2008, Federal Reserve yakabhadhara $ 30 mabhiriyoni kusvika kuJPMorgan Chase kutenga bhizinesi risina kukwana. Kutakura raiva bhenji duku asi rakanyatsozivikanwa. Dambudziko rinonetseka kuti kutadza kwa Bear kunoparadza kuvimba mune mamwe mabhanga.
Lehman Brothers raiva bhadha rekutsvaga. Yakanga isiri kambani huru, asi kukanganisa kwayo kwakashamisa. Muna 2008, Munyori wenyika yeHarare Paul Hank Paulson akati kwete kumubhadharo wekutsvaga, uye yakasvibisa kubhadhara. Musi weMuvhuro unotevera, Dow yakakanda mapeji 350. Nenguva yeChitatu, misika yemari yakavhunduka. Izvozvo zvakatyisidzira kubhadhara kweusiku hunodiwa kuitira kuti mabhizimisi aende.
Dambudziko racho raive risingapfuuri mari yezvemari . Izvozvo zvaireva kubhadharwa kwema $ 700 mabhiriyoni kwaidiwa kuwedzerazve mabhanga makuru.
Citigroup yakagamuchira $ 20 mabhiriyoni emari inokonzerwa kubva muHaimari. Mukudzoka, hurumende yakagamuchira $ 27 mabhiriyoni ezvinyorwa zvakasarudzwa zvinobhadhara 8 muzana gore negore kudzoka. Yakagamuchirawo mvumo yekutenga zvisingasviki ma5% emari inowanikwa yeCiti pa $ 10 mugove.
Bhizimisi dzekutsvaga mari Goldman Sachs naMorgan Stanley zvakare vakanyanya kukura kuti vasakundikana. Izvo zvakabhadharwa vakavabvisa kunze nekuvabvumira kuva mabhenji ekutengeserana. Izvozvo zvaireva kuti vaigona kukwereta kubva kuWed's discount discount window. Vangagona kushandisa mari yeFed yemamwe mapurogiramu akavakirwa kumabhengi ezvitoro. Izvozvo zvakaguma nguva yekubhadhara mabhengi yakakurumbira nefirimu "Wall Street." Ma1980 mantra, " Makaro akanaka ," akanga aonekwa zvino mumirairo yechokwadi. Makomborero eWall Street akatungamirira muteresi uye kurwadziwa kweimba.
Fannie naFreddie Mortgage Companies
Izvo zvikwereti, Fannie Mae naFreddie Mac , vakanga vakanyanya kukura kuti vashayike. Izvi ndezvekuti vakavimbisa 90 pecent yezvinyorwa zvepamusha zvekupera kwegore ra2008. Mari yeHurumende yakanyora $ 100 mamiriyoni mumitengo yavo yekutengesa mari , zvichida kuvadzorera kuhurumende yehurumende. Kana Fannie naFreddie vanga vapera, misika yemumba ingadai yawa. Ndizvo nokuti mabhengi haazokweretesa pasina hurumende inopikira.
AIG Insurance Company
IAmerican International Group yaiva imwe yevayiti vezvekambani vepasi pose. Yakawanda yebhizimisi rayo raiva tsika dzekambisi yveshuwarenzi Pakazosvika muchikwereti chinokanganisa swaps chakasvika mudambudziko. Izvi swaps zvakavimbisa zvinhu izvo zvakatsigira chikwereti chekambani nemari yekutengesa mari.
Kana AIG yakanganisa, inogona kukonzera kukundikana kwemasangano emari akatenga swaps idzi.
AIG inopesana ne subprime mortgages yakaisimudzira kusvika kumucheto wekushungurudza. Sezvo zvikwereti zvisungo zvakasungirirwa kune zvimedu zvakashata, AIG yakamanikidzwa kukura mamiriyoni muhomwe . Sezvo vashandi vakawana mamiriro ezvinhu, vakatengesa zvikamu zvavo, zvichiita kuti zvive zvakaoma kuti AIG ivhare swap. Kunyange zvazvo AIG yaive nezvinhu zvakakwana kudarika swaps, hazvigone kuvengesa vasati vasvika. Izvo zvakasiya iyo pasina mari inobhadhara inshuwarheni yakatsvaga. (Chinobva: "US kuti inotora AIG," The Wall Street Journal, musi waSeptember 17, 2008.)
Sangano reFederal Reserve rakapa $ 85 mabhiriyoni, chikwereti chemakore maviri kuAIG kuti iwedzere kudzvinyirira pamusoro pehupfumi hwepasi rose. Mukudzoka, hurumende yakagamuchira 79.9 muzana yehutano hweAIG uye kodzero yekudzorera vatungamiri.
Yakagamuchirawo veto simba pamusoro pezvisarudzo zvose zvinokosha, kusanganisira yekutengesa kwemafa uye kubhadhara zvikamu. Muna Gumiguru 2008, Fed yakarovedzwa Edward Liddy seMukuru weChishanu uye Sachigaro kutarisira kambani.
Chirongwa chacho chaiva cheFed kuti aparadze AIG uye atengese zvikamu kuti adzorere chikwereti. Asi mumusika wekutengesera wakanyura muna October wakaita izvozvo zvisingaiti. Vangangodaro vatengi vaida chero mari yakawandisa yemashizha ayo. Dhipatimendi reMariki yakatenga madhora mabhiriyoni makumi mana emadhora muAIG inoshandiswa zvikamu kubva muDare reKutsvaga Kwaro. Fed yakazvitengera madhora 52,5 mabhiriyoni muzvikwereti zvinotsigira mari . Mari yacho yakabvumira AIG kubvisa chikwereti chayo ches swaps rationally, ichichichengetedza uye yakawanda yemabhizimisi emari kubva pakuwa. Nezvimwe, ona AIG Bhailout .
Kuguma Kukuru Kubva Kukundikana
Dodd-Frank Wall Street Reform Act ndiyo yakanyatsogadzirisa kuchinja mari kubvira Glass-Steagall Act . Yakatsvaga kugadzirisa marongerwo emari uye kuita imwe dambudziko rezvemari zvishoma. Yakagadzirisa Financial Stability Oversight Council kudzivirira mamwe mabhengi kubva pakukura kukuru kuti asakundikana. Sei? Inotarisa kune njodzi dzinobata pfumi yese yezvemari. Inotarisirawo makambani esiribhengi emari sehedge funds . Kana imwe yekambani iyi ichinyanya kukura, inogona kukurudzira kuti itungamirirwe neFederal Reserve. IFed inogona kukumbira kuti iwedzere nzvimbo yayo yekuchengetedza inoda .
The Volcker Rule , imwe chikamu cheDodd-Frank, inobatsirawo kupedzisa zvakanyanya kukura. Inokonzera kuwanda kwematambudziko mabhanki makuru anogona kutora. Inovadzivisa kutengesa mumatanda , zvinhu kana zvigadzirwa nokuda kwebasa ravo. Vanogona kuzviita chete nekuda kwevatengi vavo, kana kuti kubvisa bhizinesi chekutengesa.