Benza ngoku. Enkosi kakhulu kolo dliwanondlebe kunye noMnu Lewis. Mfutshane , Uhlobo lwexesha lokudodobala kwexesha lokuya kwiklasikhi yakhe yaseWall Street I-Poker yamaxoki, U-Howie Hubler uye waba yinto engaziwayo yeengxaki zemali. Nangona wenza ukubheja ngobuqhetseba ngokuchasene nemali mboleko yeproprime, wayihlawula ngokungcakaza kakhulu kwimali mboleko ebonakala ingabalulekanga. Nangona kunjalo, wayishiya ibhanki enezigidi ezizigidi zeedola, itsho incwadi, ethatha umhlala-phantsi eNew Jersey ngenombolo yomnxeba engadweliswanga.
Umgca webali lendlu yaseWall Street, njenge-comic-book bad guy's, ineempawu ezahlukileyo. Kukho isidima sakuqala, ukujika okumuncu, isenzo esikhulu, ukubaleka emva koko nokunyamalala. Kodwa yintoni ngamanye amaxesha eza emva koko, ukubuya okuzolileyo, inokuba yeyona nto ibalaseleyo kuzo zonke.
NDIYAMazi kuphela njengomntu olungileyo. Kwaye ndiqinisekile ukuba uza kuphuma phambili, ngokusisiseko, ngenxa yokuba ungubani. Kodwa kunzima ukuhlalutya umhlaba wakhe, utshilo utata webhanki, umthengisi wezindlu waseNew Jersey ogama linguHoward Hubler Jr. Unyana wakhe ngobuchwephesha uHoward Hubler III. Omnye umntu wayengoyena unzima kwabathathu. Usweleke eneminyaka eyi-97, kwaye andizange ndingene nelizwi.
Unyana waseWall Street unzima, naye. Owayesakuba ngumdlali webhola ekhatywayo waseMontclair State College, uchazwe apha Mfutshane ngokuvakalayo nangokuqaqadekisa kunye nokuxhaphaza, uhlobo lokuphendula nakuphi na ukugxekwa kwengqondo kwimisebenzi yakhe ngokuxelela umgxeki ukuba aphume esihogweni ebusweni bakhe.
Kodwa yintoni i-quirk yobuntu xa ungumrhwebi ophezulu we-Morgan Stanley? Wayelungile kwinto ayenzayo, kwaye wayenengqondo. Ukuphela kuka-2004, wayelithandabuza ishishini lobambiso kwi-subprime, kwaye enqwenela iindlela ezintsha zokubheja ngokuchasene nayo. Ufumene abathengi bakaMorgan Stanley bekulungele ukumthengisela ii-swaps zokuthenga ngetyala kumadama e-subprime mortgage mboleko, ethi, nangona zininzi iindlela zemibongo zokubeka oku, bekufana nokuthatha umgaqo-nkqubo we-inshurensi eyoyikekayo kwindlu oyakhele kwintlabathi.
Kodwa ukuwa koqoqosho kwathatha ixesha ukuqala, eyayiyingxaki kuMnu Hubler-owathi ngo-Epreli ka-2006 wabekwa kwelakhe icala lengxowa-mali kaMorgan Stanley, ebizwa ngokuba yiGlobal Proprietary Credit Group. Ukwenza izigidi zeedola ezixabise ukuphatha ukubheja kwakhe kwangoko kude kufike amaxesha amabi, wathengisa i-inshurensi kwimali mboleko ebhetele kancinci. Wadlala ngentlekele awayeyibona ngokucacileyo isiza, waze ke ngokuchasene nentlekele embi kakhulu wayengaboni — evuma ukuqinisekisa indlu elandelayo, intle kodwa kwintlabathi enye. Kwaye ngenxa yokuba i-inshurensi into engenabungozi incinci ingeniso encinci, kuye kwafuneka ukuba athengise amatyeli aliqela isixa sokutshintsha okuthengwe nguye.
Ngaphambi kokuwa, Mfutshane iingxelo, Iqela likaMnu Hubler laziva likhubekile xa igosa eliyintloko lobungozi likaMorgan Stanley layalela iimvavanyo ukubona ukuba kungenzeka ntoni kwiibhejethi zabo ukuba ukungagqibeki kubangele ilahleko yeepesenti ezili-10 kwichibi labo leprprime, ababecinga ukuba alinakuze lenzeke. Ukwehla okuzayo kwakukubi ngakumbi amatyeli amane. INew York Times wathi ukubheja kwakhe kubiza uMorgan Stanley i-10 yezigidigidi zeedola. Intloko yeBhanki uJohn Mack wayibiza ngokuba neentloni ngenxa yam, kwinkampani yethu.
Kwenzeka ntoni kuHowie Hubler? USteve Kroft ubuze kule nyanga ukuba Imizuzu engama-60 .
Uvumelekile ukuba arhoxe kuMorgan Stanley kwaye uhamba nezigidi zeedola kwimbuyekezo engasemva, uphendula uMnu Lewis. Amashumi ezigidi zeedola kwimbuyekezo emuva.
Kodwa ubomi buyaqhubeka kubaphathi beWall Street. U-Lehman owayesakuba ngu-CFO u-Erin Callan uxela ukuba uchitha ixesha elininzi e studio e-East Hampton ejikelezayo; I-Bear Stearns 'uJimmy Cayne kuthiwa udlala ibhulorho eninzi; kwaye uStan O'Neal kaMerrill Lynch uhleli ebhodini lomenzi omkhulu wealuminium. Okwangoku, abo babesakuba ngabarhwebi abaphambili babambise imali njengoJack Soussana baqalise iinkampani eziguqula ukuboleka imali ezihlawulisa phambili kubabolekisi endaweni yesithembiso sokufumana ababolekisi kwimali esezantsi. Andinguye umntu ongenamthunzi, uxelele Ixesha kunyaka ophelile. Sitshintshe nje iskripthi kwaye sitshintshe imveliso esiyithengisayo.
Ngaphesheya koMlambo i-Hudson, kwiofisi eseRumson, N.J., Mnu. Hubler uye wathuleka waphinda wabuyela kwishishini lobambiso. Ngokwezixhobo zentengiso, waqala ngokuqina nababesebenza kunye noMorgan Stanley ukuba bacebise ababolekisi bemali mboleko ababolekisi ngokuhamba kumakhaya anexabiso elingaphantsi kweletyala labo.
Babizwa ngokuba liQela leXabiso leMali mboleko.
Kwinyanga ephelileyo, inkampani ibhengeze inkqubo elinde ilungelo lomenzi ethembisa ngembuyekezo yemali kubanini bamakhaya ukuba bayahlala kwaye bahlawule ngokupheleleyo imali mboleko yabo. Akuhlukanga ekubeni ndibeke i-20, 000 yeedola engxoweni kwitafile yasekhitshini ndisithi, ‘Yimali yakho le,’ utshilo uFrank Pallotta, usekela mongameli olawulayo wenkampani, nowayesakuba ngumgcini bhanki kaMorgan Stanley kule veki. Andikwazi ukuthetha ngamanani. Kodwa sityikitye uninzi. Siyaphila kwaye siyaqengqeleka.
Inkampani kaMnu Hubler ikwabandakanya umlawuli olawulayo weqela lakhe lakudala lokuthengisa. Ukungagqibeki kusengqiqweni kubabolekisi abaninzi: Ngelixa bephulukana namakhaya abo, bayazikhulula kumatyala emali mboleko yexabiso elikhulu nangakumbi, itsho iwebhusayithi, ibhekisa kwizigidi zamakhaya aseMelika anetyala elingaphezulu kumakhaya abo kunokuba amakhaya enexabiso. Indawo yokuhlala enye kwezine ebambise ngoku iphantsi kwamanzi kweli lizwe.
Iqela leXabiso leMali mboleko libiza iifizi kubabolekisi endaweni yokuhlengahlengisa umvuzo obonelela ngenkuthazo kubanini bamakhaya ukuba bangasileli. Ngenxa yokuba ukushiya nje kungenza ingqiqo yezemali, inkampani ithi, isisombululo kukujolisa kwi-pocketbook yomboleki.
Umnumzana Hubler ngekhe athethe ngeli nqaku. Ulunge kakhulu ngokungathethi ngale nto, utshilo isithethi. Kananjalo noRichard Santulli, owayengusihlalo wenkampani owayesandula ukumiselwa, owayengu-CEO wenkampani yobunini beenqwelomoya yeNetJets kude kube ngu-Agasti ophelileyo; nelungu lebhodi uMichael Goodman, owayesakuba yi-CEO yeJ. I-Wentworth, iqonga lokuhlawula isixa semali (siyaqonda ukuba kunzima ukulinda!) Ebefake isicelo sokutshatyalaliswa kunyaka ophelileyo.
Kodwa uMnu. Pallotta, usekela-mongameli olawulayo, wayekulungele ukuthetha. Abantu baziva ngathi, uyazi, uHowie wayeyingxaki kwaye iWall Street yayiyingxaki, utshilo. Kwaye uyazi ntoni? Ukuba bekukho umbuzo wentembeko, okanye ukuthembana, okanye ukubanakho ukuzisa ixabiso kwimeko yezemali, ngekhe sibekude ngoku. Xa inkqubo yemivuzo yenkampani yabhengezwa kwinyanga ephelileyo, iQela leXabiso leMali mboleko lathi sele lisebenza kunye neengxowa mali ezintathu zothango ezizezona zibambiso. Ukuba babecinga ukuba uHowie wayengu-SOB okanye uFrank wayengumculi we-BS, asiyi kuba ne-traction.
Ebuzwa malunga nababolekisi abasebenza nabo okanye ababoleki abanokuhlala kumakhaya abo angaphantsi kwamanzi ngenxa yesithembiso somvuzo, wathi abathengi bafuna ukungaziwa. Khange ndizibone iinyembezi, utshilo, kodwa ndikhe ndabona abantu besithi, 'andikholelwa ukuba ndiyifumene le nto.'
Kodwa ngaba abaninimzi abasokolayo bazakuvumela ukuba barhintyelwe ukuhlala kwinkampani ekhokelwa ngabo babesakuba ngabathengisi beebond ze-subprime? Ngokukodwa umntu ophetheyo ophetheyo obanjwe njengendawo engummangaliso kunye ne-imbecilic villain kudliwanondlebe lukaMnu Lewis noCharlie Rose, uMaria Bartiromo, uErik Schatzker kunye noMnu Kroft? Asinawo umnqweno, asizange senze kwasekuqaleni, ukuthengisa igama leQela leXabiso leMali-mboleko, utshilo uMnu. Ukuba uphumelele ilotto, uyakhathala ukuba yiScratch and Pay okanye Scratch kunye ne Sniff okanye iLotto yaseNew Jersey? Imali ikhona.
Ngaphandle koko, wathi, le nto kaMichael Lewis ziindaba ezindala kakhulu.
mabelson@observer.com
