A watan Nuwamba na 2008, jaridar New York Times ta ruwaito cewa Ma'aikatar Kuɗi ta Amurka ta riga ta ware kusan dala tiriliyan 7.8 ga tsare-tsaren ceto daban-daban, waɗanda aka tsara don ceto tattalin arzikin Amurka da kuma ba tsarin damar ci gaba da aiki.

In November 2008 the NY Times reported that the US Treasury had effectively (and so far) committed a staggering 7.8 Trillion Dollars to assorted bailout schemes, designed to save the US economy and enable the system to continue.

$1.7 Trillion a cikin lamuni (Kamfanoni suna karbar lamuni daga gwamnati, suna amfani da hannun jari masu wahalar sayarwa a matsayin jingina).

$1.7 Trillion in loans (Companies are borrowing from the government, using hard-to-sell securities as collateral).

$3.0 Trillion a cikin jari-hujja (Gwamnati ta sayi hannun jari da bashin kamfanoni, kuma za ta sayi jinginar gidaje).

$3.0 Trillion in investments (The government has bought stock and corporate debt and will buy mortgages).

$3.1 Trillion a cikin garantin kuɗi (Gwamnati tana bayar da garantin lamuni na kamfanoni, asusun kasuwar kuɗi da wasu kuɗaɗe a cikin asusun ajiya) 3.

$3.1 Trillion in guarantees (The government is guaranteeing corporate bonds, money market funds and money in some deposit accounts) 3.

Ta hanyar mayar da manyan kamfanonin jinginar gidaje guda biyu, Fannie Mae da Freddie Mac, ƙarƙashin ikon gwamnati, an ƙara wa littafan gwamnatin Amurka wasu dala tiriliyan 5.3 na basussukan jinginar gidaje.

In addition to the above, the action of nationalising the two main mortgage companies Fannie Mae and Freddie Mac effectively adds another $5.3 Trillion in mortgage liabilities to the US government books.

Akwai ɗan daidaituwa kaɗan game da girman asarar da ya kamata tsarin kuɗi ya ɗauka gaba ɗaya. Asusun Lamuni na Duniya (IMF) da farko ya kiyasta asarar kusan dala tiriliyan 1, amma yanzu yana cewa hakan zai yi ƙasa sosai. Nouriel Roubini ya kiyasta cewa asarar ƙarshe za ta zarce dala tiriliyan 2, wasu kuma suna magana kan fiye da dala tiriliyan 5. Ko da ƙaramin kaso na rage darajar a kan tulin kayayyakin kuɗi na derivatives da ya kai tiriliyan 500 zuwa 1,000, zai iya sa waɗannan manyan adadi su yi kama da ƙanana. Haɗarin da bankuna ke ɗauka saboda abokan hulɗarsu (counterparty risk) a cikin tsarin banki ya fi girma fiye da abin da ko manyan gwamnatoci idan suka haɗa kai za su iya rufewa. GDP na Amurka dala tiriliyan 14 ne, kuma Amurka ce ƙasa mafi girman bashi a duniya, tana da gibin kasafin kuɗin gwamnati fiye da dala tiriliyan 10. Gibin kasafin kuɗinta na shekara mai zuwa na iya ƙaruwa zuwa sama da dala tiriliyan 1, musamman saboda shirin ƙarfafa tattalin arziƙi da sabon Shugaban ƙasa Barack Obama ke alkawarinsa. Haka kuma ana ƙara nuna damuwa game da rashin bayyana ayyukan gwamnati. Bloomberg ya ruwaito a ranar 10 ga Nuwamba cewa, "Babban bankin Tarayya (Federal Reserve) ya ƙi bayyana sunayen waɗanda suka karɓi kusan dala tiriliyan 2 na lamuni na gaggawa daga masu biyan haraji na Amurka, ko kadarori masu matsala da bankin ke karɓa a matsayin tsaro. Duk da alkawuran da aka ba Majalisa kan bayyana gaskiya a cikin ceto tsarin banki na dala biliyan 700. Bayan watanni biyu, Fed na ba da lamuni da yawa fiye da haka a cikin shirye-shiryen ceto daban waɗanda ba sai Majalisa ta amince da su ba. Amurkawa ba su san inda kuɗin ke zuwa ba, ko waɗanne takardun tsaro bankunan ke ba da alkawari a madadinsa."

There is little consensus on the ultimate scale of losses to be absorbed within the Financial system. The IMF originally estimated about $1 trillion in losses and now says that will be too low. Nouriel Roubini has estimated eventual losses of over $2 trillion and others talk of more than $5 trillion. Even a small percentage write down on the 500 to 1,000 trillion derivatives mountain could make these large figures look tiny. The counterparty risk carried within the banking system is far greater than that which can be covered by even the largest governments acting together. US GDP is $14 trillion, and the US is already the greatest debtor nation with a more than $10 trillion government deficit, and its budget deficit in the coming year may balloon to more than $1 trillion, particularly with the stimulus package that the new President Barack Obama is promising. There is also growing disquiet over the lack of transparency in the governments actions. Bloomberg reported on the 10th of November, “The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Despite assurances given to Congress over transparency in the $700 billion bailout of the banking system. Two months later the Fed is lending far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where the money is going or what securities the banks are pledging in return4".

Dr Ronald Solberg na Armored Wolf Asset Managers ya nuna cewa gwamnatin Amurka ta zama kamar banki, kuma abin da ya fi muni shi ne tana bayar da lamuni ba tare da wani tabbaci ba. Ma'auni na Babban Bankin Tarayya (Fed) yana ƙaruwa sosai - a cikin makonni 8 zuwa 8 ga Oktoba, tushen kuɗi (monetary base) ya ƙaru da kashi 38% da ba a taɓa gani ba zuwa dala tiriliyan 1.142, kuma babu alamar cewa zai ragu.

Dr Ronald Solberg of Armored Wolf Asset Managers highlighted that the US government has effectively become a bank and worst still is offering loans without any security. The Fed’s balance sheet is dramatically growing - in the 8 weeks to Oct 08 the monetary base grew an unprecedented 38% to $1.142 trillion and shows no signs of slowing down 5.

Amma, kuɗaɗen ajiya da aka saka cikin takardun ma'auni na bankuna ba su yaɗu zuwa cikin tattalin arziƙin gaba ɗaya ba.

However, reserves injected into the balance sheets of the banks have not been disseminated into the broader economy.

Bankunan suna amfani da kuɗin wajen gyara da rage girman takardun ma'auni nasu, watau rubuta bashin da ba za su iya karɓa ba a matsayin asara.

The banks are using the cash to repair and shrink their balance sheets – ie write off their bad debts.

Akwai manyan tambayoyi game da yadda shirye-shiryen ceto za su yi tasiri da kuma yaushe matsin lamba na bashi zai kare, yayin da bankuna ke rage yawan bashinsu da kuma soke asarar da suka yi.

So there are serious questions over how effective the bailout schemes will be and how soon the credit crunch will be over as banks deleverage and write off their losses.

Ilimi da amincewa game da aniyar yin duk abin da ya dace don ceto tattalin arzikin daga durkushewa gaba ɗaya da kuma rufe manyan cibiyoyin kuɗi na Amurka ba shi da tambaya. Amma daga ina wannan kuɗin zai fito ba a tabbatar da shi ba. Gwamnatin Amurka tana fuskantar zaɓi tsakanin: rage kashe kuɗi sosai a kan ayyukan zamantakewa, lafiya da jin dadin jama'a, ƙara haraji sosai, ƙara karɓar bashi daga ƙasashen waje, ko kuma buga kuɗi kawai. Tun da zaɓin farko na rage kashe kuɗi da ƙara haraji ba zai yiwu ba kuma ba zai iya tara tiriliyoyin da ake buƙata ba, kuɗin zai fito ko dai daga lamunin ƙasashen waje, ciki har da riƙe takardun basusuka na Baitul Malin Amurka, ko kuma ta hanyar buga kuɗi wanda hakan zai rage darajar kuɗin kuma ya haifar da tashin farashi. Ana tambayar ko gwamnatocin ƙasashen waje za su ci gaba da ba Amurka kuɗi, musamman yayin da masu sayayya a Amurka za su rage sayen kayayyakin China da Japan. Gwamnatin China, wadda tuni take riƙe da dala tiriliyan 1.8 na bashin Amurka, ba ta iya son ƙara yawan abin da take riƙewa na kuɗin da zai iya shiga rikici mai tsanani.

The commitment to do whatever is necessary to save the economy from absolute collapse and the winding up of the major financial institutions of the US is unquestioned. Where this money would come from is less certain. The US government is faced with the choice of: massively curtailing expenditure on social, health and welfare projects, raising taxes dramatically, increasing borrowing from overseas, or literally printing the money. As the first two options of cutting spending and raising taxes is not tenable and cannot raise the necessary trillions needed, the money will come from either foreign loans including the holding of US Treasury bills or via printing money which will effectively devalue the currency and cause a hike in inflation. It is questionable as to whether foreign governments will continue to fund the US particularly as the US consumer will slow down in its purchase of Chinese and Japanese goods. The Chinese government which already holds $1.8 Trillion in US bonds is also unlikely to want to further increase its holdings of a currency which could go into meltdown.