Imwe yeWall Street Meltdown
Republican Senator Phil Gramm vakabatsira kunyora nekupfuura Gramm-Leach-Bliley Act ye 1999 yakabvisa Glass-Steagall Act. Chimwe chinhu chakakosha mutambi waive kwenguva yakareba muState Reserve Chairman Alan Greenspan, uyo aivewo mutsigiri webhangi rekuregererwa.
Mushure mekudhindwa kweGoo-Steagall, makaro akakunda pamusoro peuchenjeri nemabhenji akatora ngozi yakawanda pamwe newavo depositors 'mari. Pakati pe1999 na2008, Wall Street yakave isina kufanana nedunhu rezvemari uye yakafanana neRas Vegas Strip. Kunyange mutemo wakanga uchiripo wakanga usingaratidzi kushanda.
Mari yekuvandudza mari yezvemari inotungamirirwa ne Obama Administration, yekutanga, pamusoro pokudzivisa imwe kudonha kwemakambani eWall Street uyezve kugadzirisa zvemabhizimisi emari mune imwe nguva.
Derivatives, Securitization, uye Housing Bubble
Imusika yemumba, pamberi peKutora Kukuru, kwaive kuenderera mberi kwefambisi mberi uye kune chikwereti chaisakwanisa kuwana mari yakawanda yekubhadhara mari yakakwereta mari chero zvakadaro.
Mabhanki makuru akaisa izvi zvikwereti pamwe chete mumaphaketheni emakachengetedza kana zvigadzirwa, zvinonzi credit default swaps, izvo zvakava zvinhu zvinotyisa izvo zvatazozonzwa zvakawanda nezvako. Misika yematokari haisi kutongerwa saka mabhandi anogona kuvhara uye kuvhara matanho edzimba aya mumapakiti ezvakagadzirwa chero nenzira ipi zvayo yavanoda.
Pinda Sénata Phil Gramm zvakare. Muna 2000, Senator Gramm akaisa urongwa mumutemo wakapiwa, Commodity Futures Modernization Act, kurega chikwereti chisina kushandiswa kubva pamutemo.
Dutu rakakwana rakatevera nechiitiko chinonzi sub-prime mortgages. Kunyange vanhu ivavo vanga vasina kukodzera kubhadhara mabheji makuru vakatanga kubvumirwa kune zvikwereti. Countrywide Mortgage uye nheyo yayo, Angelo Mozilo, aiva mumwe wevanhu vakaipa zvikuru. Nzira yekudzidzira yaidiwa kubva kune vakakwereta yakanga isina kudiwa uye Nyika yose yaiita zvikwereti kune chero munhu aifamba mumusuwo. Dick Fuld, uyo akanga ari mubatsiri weLehman Brothers paakakundikana, akaisa mari yakawanda mu subprime mortgages sezvakaitwa nemasangano ehurumende, Fannie Mae naFreddie Mac. Fannie Mae naFreddie Mac vakazobviswa kunze kwekuda kwechisarudzo ichi. Lehman Brothers yaiva chimwe chekukundikana kukuru kwekambani mune zvemari munhoroondo.
Kunyange vagadziri veimba vakapindira pane chiito. Vakanga vachitengesa dzimba nokukurumidza sezvavaigona kuvaka uye vamwe vakabatsira vanogona kuwana mari yekuwana mari vachireva nhema pamusoro pezvavanokwanisa.
Zvishoma nezvishoma, vashandi vaduku vanotora chikwereti vakatanga kutadza kushandiswa kune zvikwereti zvavakanga vasingakwanisi kuwana pakutanga.
Yakaisa mabhenji ayo akachengetedza zvikwereti zvakawanda zvezvikwereti zvehupfumi muhurombo husina hutano sezvo vaitambura kurasikirwa kwezvikwereti muzvikwata zvavo zvezvikwereti.
The Bailouts
Kuti hurumende iWall Street igare yakasimba, nokuda kwekutya kukanganisa kwavo, mari yebhailout ye $ 700 mabhiriyoni yakasimbiswa, iyo yakaipa yeTARP fund. Chikonzero cheTARP ndechokuti kutendera mamwe emabhizimisi makuru, akafanana neCitigroup neAIG akakundikana aizowedzera kuderedza hupfumi. Ikozvino mari yekuvandudza mari yemari inonyanya kuongorora mutero kune makambani makuru akasika chikwereti kushandisa kana imwe yadzo ikava isina kugadzikana. Ichi ndechimwe chepfungwa huru dzekusawirirana mune mari yekuvandudza mari.
Izvo zvinorongwa nezvemari yekugadzirisa mari inoshandisawo mari yakawanda uye inoshandiswa kune mabhizimusi makuru, izvo zvaiwanzochengetwa pasi peChishanu-Steagall Act yakabviswa.
Inotsanangurawo kuti mabhanga makuru haakwanisi kuva nechikwereti chekuenzana kwehuwandu hwehuwandu hwe15 kusvika ku1. Apo kushamba kweWall Street kwakaitika, chikwereti chekuenzanisa chikamu chemazhinji emabhanki makuru chakakwirira kwazvo kupfuura icho.
Chikamu Rating Agence neMirayiro Iripo
Kune rimwe murairo wakasara pamusoro pebhangi nemamwe masangano emari kunyange zvazvo Glass-Steagall Act yakabviswa. Tinofanira kubvunza kuti iyo masangano ekuraira aiva panguva ipi yekudengenyeka, zvakadaro. Somuenzaniso, Securities and Exchange Commission (SEC) yakanga ine simba rekukumbira kuziviswa zviri nani kwekuchengetedzeka kwekutengeswa kwekwereti swaps. Pasi paimbova Mutungamiri Chris Cox, hazvina kudaro.
The Federal Reserve uye Federal Deposit Insurance Corporation (FDIC) inotarisira mabhizimisi ekutengeserana kana mabhizimisi. Vaiva kupi apo mabhengi aya aiita kuti vanhu vasabhadharwa zvikwereti zvikwereti?
Mimwe mitambo yekutonga ndeyezvikwata zvekubhadhara zvikwereti zvinosunga zvikwereti zvakabhadharwa nemabhanki makuru. Kune zvitatu zvakasimudzwa zvisungo zvehurumende - Moody's, Standard uye Poor's, uye Fitch Ratings. Vakapa mabhanga makuru avo vaiisa zvikwereti izvi zvikwereti pamwe chete nekukweretesa kwavo kwekukweretesa kunyange zvazvo zvinhu zvakasvibisa zvinokonzerwa nemitengo yezvikwereti zvakanyanya kuisa pangozi. Zvechokwadi, masangano ezvikwereti ane chikwereti anokweretwa nemabhangi anovashandisa avo vanoita sokuti vanopopotedzana vekufarira. Iko kwakambove kune imwe hurukuro yekudzidzira mahofisi ezvikwereti.
Maitiro uye Hurumende
Chimwe chezvinonyunyuta ndezvekuti mabhanga makuru eWall Street haana kuita tsika dzezvemari . Panzvimbo yekuita nokungwara nemari yekuisa mari, mabhanga makuru anotengesa kune vatengi varo vachishandisa mishonga yechikwereti chinokanganisa panguva ye subprime housing mortgage crisis kuitira kuti vashandise nguva pfupi.
Kubatsira kwenguva pfupi hakufaniri kuva chinangwa chemunhu chero upi zvake akasimba mumusangano mukuru. Simba rakashambadzirwa nepaguru rine vashandi vanogutsa. Vashandi vanogutsikana kuburikidza nekukwaniswa kwemutengo weiyo yekambani. Zvinoratidzika kuti mabhanga makuru eWall Street akanganwa izvi zvisati zvaitika uye panguva yemugwagwa weWall Street. Chimwe chikamu chekugadziriswa kwevatengi vemugove nderomutoro wevanhu. Kana makambani makuru asingasviki mune zvemagariro evanhu, pakupedzisira, haazokwanisi kuwedzera mutengo wavo uye vagoveri havazodi kuva nemugove wavo. Ndizvozvo chaizvoizvo zviri kuitika nemabhanki makuru ikozvino.
Yunivhesiti yemari yevadzidzi yakatochinja kare nekuda kwematambudziko emari. Zvikoro zvebhizimisi zviri kuisa kusimbisa zvakanyanya pamabasa ebhizimisi uye emari. Zvichida kana paive nekunyanya kusimbiswa pamitemo yebhizimisi mumabhuku ezvidzidzo munguva yakapfuura, paizove kune vatariri vemari vakawanda vakanzwisisa kuti mitemo inorevei.
Zvichava zvinonakidza kuona kuti kuchinja kwezvemari kunodedera sei pasi reCongress. Imwe nzira yebhangi remutemo inoda kudzorerwa zvakare panzvimbo ino kuitira kuti kuve nehutano hwemabhanki makuru zvakare pasi pesimba. Kune nzvimbo yezvinobva mune zvehupfumi, asi haisi mumabhanki edu.