In an effort to deal comprehensively with a severe financial crisis on Wall Street, the Bush administration Friday is proposing the creation of a government agency to deal with the bad loans of U.S.-based financial institutions. The plan could cost taxpayers hundreds of billions of dollars, which will be used to buy up bad mortgages and other debt.
为了全面解决华尔街严重的金融危机，布什政府星期五提议成立一个新的政府机构，应付美国金融机构的坏帐问题。这项计划要购买不良的房屋抵押贷款和其它债务，可能要耗费纳税人数千亿美元。
Saying the financial system faces an unprecedented challenge, President Bush says the government must intervene in the markets to restore financial stability.
美国总统布什说，金融体系面临前所未有的挑战，政府必须对市场进行干预，以便恢复金融稳定。
Treasury Secretary Henry Paulson says emergency legislation will be presented to lawmakers within the next two days.
美国财政部长保尔森说，将在今后两天内向国会提交这个紧急法案。
"I look forward to working with Congress to pass legislation to remove these troubled assets from our financial system," he said. "When we get through this difficult period, which we will, our next task must be to improve our regulatory structure so that these past excesses do not reoccur."
保尔森说：“我期待与国会合作，通过法案，清除金融体系中的不良资产。 我们会撑过这段艰困的时期，在我们撑过去之后，我们的下一个任务必须是改善我们的规范管理结构，避免重蹈覆辙。”
Paulson and Federal Reserve Chairman Ben Bernanke briefed congressional leaders on the plan Thursday night. The Treasury secretary says he hopes for congressional approval next week.
保尔森与美联储主席伯南克星期四晚间向美国国会领导人通报了这个计划。保尔森说，他希望下星期能获得国会的批准。
The plan would create a government entity that would buy bad loans. A similar agency, the Resolution Trust Corporation, was created in 1989 to deal with the bad debt related to real estate lending. The RTC cost American taxpayers about $150 billion. Paulson says this bank rescue is likely to cost much more.
该计划将会成立一个新的政府机构，购买坏帐。美国在1989年曾经成立过一个类似的机构--美国重组信托公司，应付房地产借款相关的坏帐。这个机构花费了美国纳税人大约1500亿美元。保尔森说，这次的银行拯救方案耗费的资金很可能要多得多。
"We're talking hundreds of billions," he said. "This needs to be big enough to make a real difference and get at the heart of the problem."
保尔森说：“我们说得是数千亿美元。这笔金额必须足够多，以便真正解决问题的核心。”
President Bush, speaking about the financial crisis for the third time this week, said significant amounts of taxpayer money will be put at risk, but that he expects the money to eventually be paid back. Without government action, he said, there was a risk that financial sector could grind to a halt.
美国总统布什这个星期第三次对金融危机发表了讲话，他说，虽然拯救措施将一定数量的纳税人资金置于危险的处境，但是他预计这些资金最终会收回来。他说，政府如果无所作为，金融体系就有完全停摆的危险。
Wall Street welcomed the news of the bail out, as stock market indexes soared. They had registered deep declines earlier this week as one investment bank collapsed and a giant insurer was taken over by the US government. The federal government already has pledged more than $600 billion in the past year to bail out, or help bail out, some of the biggest names in American finance.
华尔街对拯救消息表示欢迎，股市指数因而上扬。这星期早些时候股指重跌，因为一间投资银行破产和一间大保险公司被美国政府接收。在过去一年里，美国政府已经动用了6000亿美元拯救或者协助拯救美国一些大型金融公司。 |