Riaan 
Ngokuwa okufushane kodwa okumangalisayo kwe-Silicon Valley Bank, kungenzeka ukuthi sisanda kubona inkinga yamabhange engcono kakhulu eyake yaba khona.
Kungase kube usizo.
Akekho owalimala kakhulu, ngaphandle kwabaphathi bamabhange abenza izinqumo ezimbi nabaninimasheya ababenganakile.
Lawo ma-libetarian aseSilicon Valley achitha iminyaka efuna ukuthi uhulumeni aphume endleleni azitholele wona ukuvela lapho bencenga i-Federal Reserve ukuba ibasindise. “Kuphi [Federal Reserve Chair Jerome H.] UPowell? Kuphi [Treasury Secretary Janet L.] Yellen? Yeka le nkinga MANJE,” kuTwitter uDavid Sacks, umtshali-zimali wezobuchwepheshe owayethanda ukucekelwa phansi kokudala kwaze kwaba yilapho esondela kakhulu ku-akhawunti yakhe yasebhange.
Njengoba nje kungekho abangakholelwa kuNkulunkulu kuma-foxholes, abekho ama-libertarians ekuthukeni kwezezimali.
Osopolitiki baseRiphabhulikhi banikeze umthamo wamahlaya, besola amaphutha ezezimali e-SVB engcupheni ecatshangwayo “wake banking.” Kukhona abukho ubufakazi ukuthi ukuthambekela kwezombusazwe kwabamabhange, “kwavuka” noma ngenye indlela, kuthinte ibhalansi yabo.
Sonke sithole isikhumbuzo esiwusizo sokuthi kungani ubungxiwankulu bemakethe yamahhala budinga ukulawulwa: ukuvikela umfanyana (futhi ngezinye izikhathi hhayi abafana abancane) enhlekeleleni.
Okubaluleke kakhulu, i-Fed kanye ne-Federal Deposit Insurance Corp. (FDIC) bathole ucingo lokuphaphama lokuthi ukwengamela kwabo amabhange amaphakathi kuye kwaxega ngendlela eyingozi.
Ukuwa kwe-SVB, nakuba kwakusabisa, kungaba yisixazululo esiwusizo ekuyekisweni kokulawulwa kwebhange ngokweqile, njengenkinga yezempilo emfushane eyenza abantu bazivocavoce kakhulu futhi badle kangcono.
Naphezu kobunzima obukhungathekisayo bezezimali eziphezulu, indaba ye-SVB ibonakale ilula kakhulu. Ibhange lipake imali yalo eningi kakhulu kumabhondi kahulumeni wesikhathi eside, eyehla inani lapho amanani enzalo enyuka. Lokho kushiye i-SVB ingenazo izimpahla ezanele uma inqwaba yabagcini bayo benquma ukuyikhipha yonke imali yabo ngesikhathi esisodwa – abakwenzile.
Kodwa ukuba sengozini kwe-SVB bekungafanele kube isimanga. Ibhange libike izinkinga zalo ezitatimendeni zezimali zomphakathi ekwindla eledlule. I-Wall Street Journal ishicilele i-athikili mayelana nokuminyanisa kwempahla ngoNovemba, cishe izinyanga ezine ngaphambi kokuba ochwepheshe bezobuchwepheshe bethuke.
Impicabadala kungani isikhulu esiphezulu se-SVB uGreg Becker noma iziphathimandla zikahulumeni nezifundazwe ezabelwe ukulawula ibhange zingazange zithathe isinyathelo ukuvimbela le nkinga. I-Fed noma i-California Department of Financial Protection and Innovation ibingase idinge i-SVB ukuthi ikhuphule imali eningi ngonyaka odlule, lapho isengozini encane. Abazange.
“Abalawuli bebelele eswitch,” Lawrence J. White, uchwepheshe wezamabhange eStern School of Business yaseNyuvesi yaseNew York, utshele uzakwethu uDon Lee.
Lapho abadiphozithi abakhulu be-SVB beqala ukunyathelana ekuqaleni kwale nyanga, kwase kwephuze kakhulu.
Ku-Powell kanye no-Yellen, ukwethuka e-Palo Alto kuphakamise umfutho kwamanye amabhange aphakathi nendawo ezweni lonke.
Ngakho-ke bangena, babamba i-SVB bathi bazoqinisekisa wonke ama-akhawunti, ngisho nalawo amakhulu kunophahla lomshwalense we-FDIC ka-$250,000.
Lokho kufaneleka njengebheyili. Kuzoba njalo ikhokhwe ngezimali emabhange esikhundleni samadola entela, kodwa wonke amakhasimende asebhange azokwabelana ngezindleko ezingabonakali.
Noma kunjalo, bekungcono kunokunye: ukwethuka kwamabhange kanye nomonakalo omkhulu emnothweni.
Isinqumo sokumboza amadiphozithi angaqinisekisiwe ngaphezulu kwama- $ 250,000 senza ukuba kube nokuphikisana “ngengozi yokuziphatha.” Ngokombono, ubunxiwankulu buyazilawula lapho ukuziphatha okuyingozi – ukubeka imali eningi ebhange elilodwa, isibonelo – kujeziswa. Uma uhulumeni ehlenga abantu ababheja kabi, abanaso isisusa sokugwema ingozi engafanele.
Kodwa ukutakulwa kwe-SVB bekungakaze kwenzeke. I-FDIC kanye ne-Fed batakule buthule abantu abaningi abafaka imali engaqinisekisiwe kusukela ngo-2008.
U-Becker uzothola ithuba lokuzichaza ezigcawini zekhongolose, inguqulo yeCapitol Hill Hamba Ngehlazo kwesithi “Game of Thrones.” Cishe uzobuzwa ukuthi ngabe uvukwe kakhulu yini ukuthi aqaphele ukuthi izibopho zakhe zesikhathi eside zilahlekelwa inani.
Abalawuli bazobizwa futhi ukuthi baziphendulele, hhayi kuphela ngabagxeki asebenesikhathi eside njengoSen. Elizabeth Warren (D-Mass.). Ngesonto eledlule izinduna eziyishumi nambili ezihlanganisa uKyrsten Sinema (I-Ariz.) kanye no-JD Vance (R-Ohio) babuze i-Fed ukuthi kungani yehlulekile ukuphenya i-SVB.
Selukhona kakade uhlu lokulungiswa okungenzeka. ICongress ingase iphinde ibuyisele lokho okubizwa ngokuthi izivivinyo zokucindezeleka emabhange anosayizi ophakathi, umthetho eyawuqeda ngo-2018. I-Fed ingase iphinde ibuyisele izidingo ze-liquidity kulawo mabhange, umthetho u-Powell awuxegise ngo-2019. I-FDIC ingaphakamisa uphahla lomshwalense wediphozi ngaphezu kwama-$ 250,000 futhi amabhange okukhokhisa izindleko.
Ukuhlolwa kuzofika ezinyangeni eziyisithupha kusukela manje: Ingabe i-Fed yenza okwengeziwe? Ingabe amabhange? Kanti abavoti basanakile yini?
Amajita wesistimu yebhange awakapheli. Uhulumeni usazama ukudayisa izinsalela ze-SVB. I-First Republic Bank ezinze e-San Francisco isabukeka intengantenga, ngisho nangemva kokujova amadiphozithi ezigidigidi ezingu-30 zamaRandi.
Kodwa okungenani okwesikhashana, sonke singaphefumula. Uma zonke izingqinamba zezimali zingaxazululwa ngokushesha njengalesi, ubunxiwankulu bebungasabisa kancane.
