Ngaso sonke isikhathi, intuthuko ihlanganisa kahle yonke into engalungile ngenkathi. Ukuwa kwe-Silicon Valley Bank (SVB) kungenye yentuthuko enjalo, isiphetho seminyaka eminingi yobudedengu bezezimali, amalungelo ezinkampani, kanye nokuthathwa kwezinqumo kwezombusazwe okonakele.
Ibhange lase-US leshumi nesithupha ngobukhulu ngempahla kuze kube yizinsuku ezimbalwa ezedlule, ukufakwa kwe-SVB kuwukwehluleka kwebhange okwesibili okubi kakhulu emlandweni wase-US futhi okubi kakhulu kusukela umbuso wezinkinga zezimali zomhlaba wonke waqala ukuwa ngo-2008. Lasungulwa ngo-1983, ibhange lasungulwa. i ukuya esikhungweni sezimali ngenxa yokuchichima kokuqalwa kweSilicon Valley okuye kwasabalala njengokuqubuka ngesikhathi semali eshibhile, okwakungenye yezinto ezibangela ukuwa kwayo.
Lapho izikhathi zazizinhle emalini yebhizinisi, zaziyinhle nakwa-SVB, esebenze cishe ingxenye yazo zonke izinkampani zase-US ezisekelwa yibhizinisi. Izikhathi bezizinhle kakhulu kule minyaka eyishumi edlule noma ngaphezulu, njengoba i-Federal Reserve ingenisa inkathi yezilinganiso zenzalo eziphansi kakhulu ngemva Kokuwohloka Okukhulu Komnotho. Ukukhula okuxegayo kanye nokwesweleka kwemisebenzi kwakuseqophelweni eliphezulu kwezombusazwe nakwezomnotho; izilinganiso zenzalo ephansi, kwahamba ukucabanga, kungasho izindleko eziphansi zokuboleka, okuholela ekutshalweni kwezimali okwengeziwe nokudala imisebenzi eyengeziwe.
Izinto zancipha ngemuva kobhubhane lwe-coronavirus, lapho ukwehla kwamandla emali kudlula ukuntuleka kwemisebenzi njengoba the ukukhathazeka kwezepolitiki nezomnotho kosuku. I-Federal Reserve iqale ukukhuphuka ngokushesha amanani enzalo, ngamaphoyinti amakhulu angama-450 ngonyaka odlule. Ngalesi sikhathi, umcabango wawuwukuthi ngokucindezela ukutshalwa kwezimali kanye nokukhulisa izindleko zabo bobabili amabhizinisi kanye nabantu abavamile, i-Fed izobeka isivalo ekukhuleni kwamaholo nasekusetshenzisweni kwabathengi futhi iphinde iqinise ukwehla kwamandla emali (yize usihlalo we-Fed uJerome Powell evumile ukuthi leli su ngeke lithinte. amanani okudla kanye nophethiloli, ezimbili zezindawo lapho abantu baseMelika abavamile bezwa kakhulu imiphumela yokwehla kwamandla emali).
Lokhu futhi kwaba ne umphumela wesibili yokuvala umpompi wokugeleza okunganqamuki kwezimali zebhizinisi ebezigcina ukuqala, ngisho nalezo ezilahlekelwa yimali, ngaphezu kwamanzi, okusiza ukubangela ukwehla okukhulu kwezobuchwepheshe, phakathi kwezinye izinto. Izikhathi zokuncika kulo mkhakha zibe nomthelela ongemuhle ku-SVB, okuvele kungazelelwe ebhekene nakho imali encane evela kubafaki bezimali abasekelwa imali yebhizinisi.
Kodwa umphumela oyingozi kakhulu wokwenyuka kwezinga le-Fed ku-SVB ukuthi itshale kakhulu kumabhondi kahulumeni - amanani azo avame ukwehla lapho amanani enzalo enyuka futhi okuphambene nalokho - ngenxa yokuthi yayingenayo. nokunye okuningi mayelana nemali amakhasimende ayo abepaka ngayo. Ngokusho kuka-Adam Tooze, i-SVB ibithatha ingoma okungenani $ 1 billion kuwo wonke amaphuzu ayisisekelo angamashumi amabili nanhlanu i-Fed ewakhuphule amanani, kuyilapho ingatshali imali kunoma iyiphi iheji yezinga lenzalo, ishiye ichayeke ikakhulukazi kugambithi yokulwa nokwehla kwamandla emali ka-Powell.
Okwagcina kubhujiswe i-SVB ukuthi ukulahlekelwa okwaba umphumela kwabangela ukutatazela phakathi kwababeki imali. Lokhu bekungeyona ingxenye encane ngenxa yosozigidigidi bakaPeter Thiel's VC firm Founders Fund, okuthe, ngemuva kokuthola abatshalizimali bayo benenkinga yokudlulisa imali kuma-akhawunti ayo e-SVB, odwe ngaphambilini ukuthi bazithumele kwamanye amabhange futhi base beyikhiphe yonke imali yabo ngesikhathi ibhange liqala ukuncibilika ngasekupheleni kwesonto eledlule. Ngesikhathi esifanayo, i-newsletter edumile emhlabeni we-VC waxwayiswa mayelana nezindaba zezezimali ze-SVB, kuyilapho idiphozithi eyodwa kuchazwe ukwesaba phakathi kwengxoxo yeqembu yabaphathi bezobuchwepheshe abangaphezu kwamakhulu amabili, abasheshe baphuthuma ukukhipha imali yabo. Ukuziphatha okufana nalokhu kuholele ekuqhubeni phambili kwebhange, lapho wonke umuntu onezimali ebhange ephikelela ukukhipha imali yakhe ngesikhathi esifanayo, ayibhidlize.
Konke lokhu kunikwe amandla yinhlanganisela evamile yamandla ezinkampani kanye nenkohlakalo eWashington, DC. KwakunguDonald Trump kanye nokuhlehliswa kwe-GOP Congress ngo-2018 komthetho wezinguquko wezezimali we-Dodd-Frank lapho, ngesikhathi isicelo somuntu siqu kamongameli we-SVB eminyakeni emithathu ngaphambili, wavula umnyango kulolu hlobo lokuncibilika, ngo ukukhulula igcina usayizi we-SVB kusukela kumagunya okukhokha imali kanye nokuhlolwa kwengcindezi okuvamile okuvela kubalawuli. Hhayi ukuthi bekuyi-SVB ibuza kahle nje: ibhange liphinde lasebenzisa imali engaphezu kwengxenye yesigidi ekunxenxeni abantu kuleyo minyaka emithathu, kuyaqashwa njengabagqugquzeli ababekade bengabasebenzi bomholi weningi leNdlu yangaleso sikhathi (futhi manje oseyisikhulumi) u-Kevin McCarthy, owasekela ngentshiseko ukubuyiselwa emuva.
Yiqiniso, kwakungewona nje amaRiphabhulikhi okufanele asolwe. AmaDemocrat ayishumi nesikhombisa asekela umthetho, futhi okubalulekile ekususeni ukugxeka okuqhubekayo kwalo mthethosivivinywa. Ummeli u-Barney Frank - "uFrank" ku-Dodd-Frank - owaphikelela ukuthi ngeke kwenze inkinga yezezimali yesikhathi esizayo ibe nokwenzeka kakhulu futhi izeluleko zakhe zicashunwe ngabakwa-Wall Street abathumba amaDemocrats esitezi seSenate nakwezinye izindawo njengoba belungiselela ukuqeda ubunzima bezezimali. imithethonqubo.
Okubi kakhulu kunendlela iseluleko sikaFrank esigugile ngayo ukuthi ngaleso sikhathi, kwenzeka ukuthi wahlala ebhodini leSignature Bank. Leso sikhungo asizuzanga nje ngokuthi uFrank ekhulumela iCongress wenza buthaka impumelelo yakhe yokusayina umthetho, kodwa manje kuvaliwe ngabalawuli ngemva kokuba ukwehluleka kwebhange kwesithathu ngobukhulu emlandweni wase-US ezandleni zebhange layo eligijimayo, ukuze ukuvimbela ukutheleleka okubanzi kohlelo lwezezimali - into uFrank agcizelela ukuthi ngeke yenzeke.
Ngaleso sikhathi, izinduna ezizimele zaseSilicon Valley naseWall Street ziguqule ubusuku bonke zaba amawadi avumayo wezwe, efuna uhulumeni uze Khulula yabatshalizimali abacebile abangase balahlekelwe. (Uhulumeni wobumbano uqinisekisa kuphela amadiphozithi afinyelela ku-$250,000, okusho ukuthi ngaphezu kwamaphesenti angu-85 emali efakwa e-SVB ibingaqinisekisiwe.) U-Larry Summers, usanda kukhishwa. ukuthuka ngokumelene "Usizo lwemalimboleko yabafundi oluphana ngokungenangqondo," manje esitshela “akusona isikhathi sezinkulumo eziyingozi zokuziphatha noma sokuqondisa izifundo noma sokwethuka ngemiphumela yezombangazwe ‘yokukhishwa kwebheyili,’” njengoba efuna ukuthi zonke izimali ezifakwa ngaphandle komshwalense “zibe zisekelwa ngokugcwele ngoMsombuluko ekuseni.”
Ngokungangabazekiyo, uSummers nabanye bakhe baphumelele. Noma kunjalo ukufakaza hhayi ukukhulula i-SVB kanye neSiginesha, uMgcinimafa, i-Fed, kanye ne-Federal Deposit Insurance Corporation bacele "indlela ehlukile yobungozi" umemezele ukuthi bonke abafaka imali, ngisho nalabo abangaphezulu komkhawulo we-$ 250,000, "bazokwazi ukufinyelela yonke imali yabo" kusukela namuhla, nokuthi kuzoqala uhlelo lokuboleka oluphuthumayo lwamabhange ukuze aqinisekise okuningi.
Ezinye zikhona umdwebo a ukuhlukaniswa lapha kusukela ekukhishweni kwebheyili ka-2008 okuduma kabi nokuzondwayo, ngoba kulokhu, amabhange awatakulwa futhi abakhokhi bentela abawulandeli umthethosivivinywa (izimali ezisetshenziselwa ukukhokhela abafaka imali kwenziwe yezimali ezazikhokhwa emabhange). Kodwa ekugcineni, uhulumeni uyangenelela ukuze aqinisekise ukuthi abatshalizimali abacebile kanye nabaphathi abalahlekelwa ngisho nesenti kulokhu kuxoxisana, naphezu kweqiniso lokuthi bazi kahle kamhlophe ukuthi amadiphozithi abo ayengenawo umshwalense. Ngisho ne Wall Street Journal ibiza lokhu "i-bailout ye-de facto."
Kukhona ukungalungi okusobala, okubangelwa ingcebo okutholakala kukho konke lokhu. Kanye aphinde, izinsizwa ezinkulu zishesha zibhujiswe umlilo wemali lapho zingena enkingeni ngemuva kokwehluleka ukwenza inkuthalo eyisisekelo. Ngaleso sikhathi, abantu abasebenzayo bayafundiswa ngesibopho somuntu siqu, futhi bayaphoqeleka ukuthi bashaye uzipho ukuze bakhululwe esikweletini esicindezelayo, ukuze bathole ukuvikelwa kwezomnotho okuyisisekelo phakathi nenhlekelele yomnotho, futhi bathole amasheke okuvuselela kanye kuphela angayikhokhi imali yerenti yenyanga. emadolobheni amaningi.
Kuphinde kube nombuzo wokuthi hlobo luni lokungabi nasibopho lwesikhathi esizayo lokhu okuzolukhuthaza. Phela abatshalizimali bavele bazibonela (futhi) ukuthi uhulumeni wobumbano uzongenelela ukuzobahlenga noma ngabe imali yabo efakwe imali ayinamshwalense - noma ngabe isikhungo sezimali abebepaka imali yabo besingenacala kangakanani, inqobo nje uma kunomsindo. ukuntengantenga kwezimali okungaba khona ekhoneni. Singase futhi sibuze ukuthi iyiphi enye inhlekelele yezomnotho engase ibangelwe ukuzimisela kwe-Fed ukulwa nokwehla kwamandla emali ngokukhuphula izinga lenzalo; I-SVB ilungile omunye wabaningi izinhlangano ezingase zidlulele ekungazinzini njengoba ibhange elikhulu liqhubekela phambili nohlelo abaxwayisa ngalo ochwepheshe. bangela ukwehla komnotho, njengoba ukuwa kwe-cryptocurrency sekuvele kusibonisile.
Ngemuva kwakho konke, kunombuzo: Kuyoze kube nini abantu bazolubekezelela uhlelo olufana nalolu? Eyodwa lapho isamba esikhulu somcebo siqondiswa ngendlela engafanele esiphethweni esingakhiqizi maphakathi nezinkinga zomlando zomhlaba, bese sihlakazwa ubudedengu bokuqagela obucishe buyehlise sonke isakhiwo, kuphela kulabo abanemali yokugibela ipharashuthi endaweni ephephile kuyilapho wonke umuntu ehlala egwetshiwe. . Ukukhishwa kwebheyili kwasekuqaleni kwebhange kwasusa intukuthelo ethandwayo engenakuguqulwa okwenyanga isimo sezombangazwe zekhulu lamashumi amabili nanye, kusukela ku-Occupy Wall Street kanye nemikhankaso kaBernie Sanders kuya enhlanganweni yeTea Party kanye nokuba ngumongameli kaTrump. Kuyoba njani uma ziqhubeka zenzeka?
I-ZNetwork ixhaswa kuphela ngokuphana kwabafundi bayo.
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