U.S. President George Bush says America's economy is facing a "pivotal moment" in a financial crisis that began with risky home mortgages now spreading throughout the financial system and eroding consumer confidence. Mr. Bush wants Congress to buy up securities based on those risky mortgages to protect the nation from "serious risk."
美国总统布什星期五在白宫发表讲话说，美国经济正面对着一场金融危机的关键时刻。这场金融危机是高风险的次级房贷引发的，但是现在已经扩散到了整个金融体系，而且正在侵蚀消费者信心。布什总统要求国会批准有关政府机构接管银行系统不良资产的计划，以免国民经济遭受更大的风险。
President Bush says America's free enterprise system rests on the conviction that government should interfere in the market only when necessary. Given what he calls the precarious state of today's markets, Mr. Bush says that intervention is not only warranted, it is essential.
布什总统说，美国的自由市场经济体系之所以能够长治久安就是因为人们坚信，政府只会在绝对必要的时候才对市场进行干预。考虑到目前市场上的不稳定局面，布什总统指出，政府现在出面干预不仅是理所当然的，而且是至关重要的。
"America's economy is facing unprecedented challenges. And we are responding with unprecedented action," the president said.
“美国经济正面临着前所未有的挑战。而我们必需以前所未有的行动做出反应。”
Treasury Secretary Henry Paulson Friday outlined a program to buy up bad mortgage-backed securities that he says will cost hundreds of billions of dollars.
美国财政部长保尔森星期五公布了一项收购金融机构手中抵押贷款坏帐的计划，其中包括由次级房贷支持的证券。他说，这可能要花费数千亿美元。
The action requires congressional approval, and Paulson briefed leaders on the plan Thursday evening. A top lawmaker on the Senate banking committee, Alabama Republican Richard Shelby, says bailing out financial markets could cost U.S. taxpayers up to one-trillion dollars.
这个行动需要得到美国国会的批准。保尔森在星期四晚上向国会领导人通报了有关计划。 来自阿拉巴马州的共和党参议员、参议院银行委员会的资深成员理查德·谢尔比说，拯救金融市场恐怕会耗费美国纳税人上万亿美元。
Speaking to reporters in the White House Rose Garden, President Bush says decisive action is needed to preserve America's financial system and sustain the overall economy.
布什总统在白宫玫瑰园告诉新闻记者，政府需要采取当机立断的行动来保护美国的金融体系和维护整个经济。
"These measures will require us to put a significant amount of taxpayers' dollars on the line," Mr. Bush said. "This action does entail risk, but we expect that this money will eventually be paid back."
“这些措施要求我们把纳税人的大笔资金投入第一线。这个行动的确有风险，但是我们预期，这笔钱最终将如数奉还。”
The president says the risk of not acting would be far higher.
布什总统表示，不采取行动的风险相对来说会更大。
"Further stress on our financial markets would cause massive job losses, devastate retirement accounts, and further erode housing values, as well as dry-up loans for new homes and cars and college tuition," he said. "These are risks that America can not afford to take."
“我们的金融市场如果承受更多的压力就会导致大批人员失去工作、退休帐户付诸流水、房屋价值进一步下降，人们无法获得新的住房贷款、购车贷款和大学学费贷款。”
The Bush administration says it will safeguard assets in money market mutual funds and has temporarily banned the short-selling of financial company stocks, which allowed traders to bet on those stocks declining in value.
布什政府还宣布对货币市场上的共同基金提供担保，并暂时禁止对799个金融机构的股票卖空。卖空是股市上的一种投机行为，指的是投资人从券商手里借入看跌的股票并卖出，等股价降低时再买回股票还给券商，利用差价来谋利。 |