Kubhadhara chikwereti chakakonzerwa neChikwata cheWorld Street uye World
Mutsara wechifupi: Chibvumirano chechikwereti chinokonzerwa apo sangano rezvemari, rakadai sebhangi, rinotora chikwereti chakakodzerwa nevakakwereta vazhinji, rinovaisa pamwechete mu "dziva", rinoparadzanisa dziva iro muzvikamu zvakasiyana zvichibva panjodzi inonzi "tranches "Ndokubva atengesa zvigaro izvozvi kune varairimu vakaita sehedge funds.
Iyo yakareba yevhesi: Inofungidzirwa kuti ndiyo inokonzera Chikwereti Crisis, iyo yakavharwa chikwereti chezvisungo , kana kuti CDOs kwenguva pfupi, iyo rudzi rwekutsvaga kwekuzivikanwa kunozivikanwa sevashandi vakachengetedzwa, kana ABS sezvavanowanzonzi kuWall Street. Kukosha kwechikwata chechikwereti chikwereti kunobva kune chikwereti chinotarisirwa (kukohwa) kwezvikwereti zvakasimbiswa semari zvakadai sedhani rekubhadhara, kusungirwa kwekambani, masangano emumatare , kana chero zvimwewo Wall Street yakasarudza kuisa pane imwe CDO.
Kuomesa nyaya, kubhadhara zvikwereti zvezvikwereti zvakakamurwa kuva mapoka anozivikanwa sezvidimbu. Izwi rokuti tranch rinobva kuFrench kune "slice" kana "zvidimbu" uye rinomiririra chikamu chakasiyana chepodfolio. Chirongwa chepamusoro mune chimwe chikwereti chechikwereti , somuenzaniso, chaizova nekodzero yekuchengetedza nzvimbo yakachengeteka. Kana iyo yepfuma inowanikwa muzvikwereti zvisiri chikwereti ndeyokutanga kuipa - somuenzaniso, vimba veimba vakamira kuita mari yavo yokubhadhara mari - zvigaro zvejuni zvakanyanya zvingatora kurasikirwa kwekutanga.
Ngatimbofungidzira iwe une bhangi rinonzi North Star Bank Corporation. Iwe unobatanidza pamwe neboka re $ 500 mamiriyoni edzimba dzemari nemafanana akafanana mune zvitsva zvakasungirirwa chikwereti - paWall Street iwe unogona kupa zita reprosaic rakafanana neNorth Star Bank Corporation Homeowners Series CDO.
Iwe unoshandisa izvo zvinozivikanwa semvura inoshandiswa huwandu hwehupfumi uye ugoparadzanisa chikwereti chechikwereti muzvikamu zvishanu:
Chirongwa A cheCDO - Kubvisa chekutanga 20% ye kurasikirwa pane zvakakanganiswa chikwereti chikwereti chikwereti
Bhino B yeCDO - Absorbs yechipiri 20% ye kurasikirwa pane zvakakonzerwa chikwereti chikwereti chikwereti
Nechechi C yeCDO - Absorbs chechikamu chechitatu chekurasikirwa pane chikwereti chechikwereti chikwereti
Dhani D yeCDO - Absorbs yechina 20% ye kurasikirwa pane zvakakonzerwa chikwereti chikwereti chikwereti
Nhamba E yeCDO - Absorbs yechishanu uye yekupedzisira 20% ye kurasikirwa pane zvakashata chikwereti chikwereti.
Kana iwe uri bhangi, iwe unogona kunge uchida kuchengeta Tranche E yeCDO iwe pachako nokuti ndiyo yakachengeteka. Kunyangwe kana hafu yevakwereta isingakwanisi kubhadhara, iwe uchiri kuenda kunotora mari yako zvakare uye iwe unotora mari inoramba ichitaura. Iwe ungangodaro uri kutengesa kubva kune chikwereti chikwereti chezvisungo zvigaro A, B, C, uye zvichida kunyange D, zvisinei, nokuti unogona kuunza mari yakawanda uye mari yepamusoro kuti udzose kushanda mubhangi rako kana kubhadhara kune yako vashandi sezvikamu.
Saka izvi zvingakonzera sei kudengenyeka kwemari kwenyika yose? Mabhangi, mapoka emishuwarenzi, hedge funds, uye mamwe masangano akashandisa yakawanda yemari yakakweretwa kuti iite mari yakaiswa muzvikwereti zvezvikwereti .
Panguva imwecheteyo, vanhu vakavhara izvi pamwe chete vakatanga kugamuchira zvinhu zvakaderera zvehupfumi, zvichifambiswa neimba yekudzivirira, nokuti nguva dzaive dzakanaka uye mari yakanga ichiyerera pasina rusununguko.
Apo dzimba dzeimba dzikawa, hupfumi hwakaburuka, uye vanhu vakanga vasingakwanisi kubhadhara zvikwereti zvavo, chinhu chose chakakwira semurwi wehutu hwakaputirwa mune peteroli. Chikamu chechikonzero chakanga chiri murairo unozivikanwa sechiratidzo kumusika.
Nheyo yekuisa chiratidzo kumusika uye kuparadza zvikwereti zvezvikwereti ndeyekuti vanyori vekuda mari vanoda vashandi kuti vawane pfungwa yakaoma yehutengo hwemari yekambani kana vaifanira kutengesa zvinhu zvose zviri mumamiriro ekutengeserana anhasi. Dambudziko nderokuti mabanki akawanda kana masangano haasi kuzotengesa zvinhu zvavo panguva yakazara inoputika nokuti vane zvigadziro zvekuramba vachibatisisa - uye mune zvimwe zviitiko zvinoramba zvichiri kutenga - idzi dzekuchengetedza.
Apo chikwereti chekwereti chakatanga, mamwe masangano akapinda mumatambudziko aifanira kutengesa maCDO avo akaipa pamitengo yekutsva moto. Izvi zvaida, pasi pemitemo yekuongororwa panzvimbo, mumwe nomumwe kutora kurasikirwa kukuru mumabhuku avo kunyange dai vakanga vasati vamboona kurashikirwa kusvikira panguva iyoyo. Mabhangi anodikanwa kuchengetedza imwe chiyero chekuenzana kune chikwereti chemari yavari kukweretesa kune vatengi. Vaya vanyorera-kunyora, kunyange kana pamapepa, vakaderedza mari yakawanda mabhengi angakweretesa kubva kune izvo zvakaenzana kuenderana.
Izvi zvakagadzira izvo zvinozivikanwa mumari yezvemari sekufa kwemhepo kana kuti zvisina kunaka loop. Dambudziko racho rakatanga kuzvidya pacharo sekunyorera pasi kubereka zvimwe kunyora pasi. Izvi zvakaita kuti mabhengi ave nekutya kuti varwi vavo vaizoenda kubhadhara, saka vakamira kukweretesa mari kune mumwe nemumwe, zvakare.