voa标准英语2008年-US Treasury Secretary Defends Bailout, Calls fo

U.S. Treasury¹ Secretary Henry Paulson has defended his handling of the $700 billion financial bailout package. Paulson spoke² Thursday at the Ronald Reagan Presidential Library in Simi Valley, California, and Mike O'Sullivan reports, he called for cautious reforms in the U.S. and global financial systems.
　

US Treasury Secretary Henry Paulson (file photo)

Paulson said the current financial crisis had many causes, including government inaction and mistaken actions, outdated³ U.S. and global regulatory systems, and too much risk-taking by financial institutions. He says his first priority has been to stabilize⁴ the system. He says the next will be to reform it.

"This debate offers great opportunities and great peril⁵. The events of the last year have exposed excesses and flaws that are, to put it mildly, humbling⁶. If we do not correctly diagnose the causes and instead act in haste and implement⁷ more rather than better regulations, we can do long-term harm," he said.

Paulson says recovery will take time, and a new regulatory framework cannot be developed while the financial situation is unfolding.

The treasury secretary faced sharp criticism over his handling of the bailout when he appeared Tuesday before the House of Representative Financial Services Committee. The $700 billion escue plan initially⁸ focused on buying bad debt from banks that were left with nearly worthless securities after the housing market collapsed⁹. Paulson said a worsening situation called for a change of strategy, and he started making cash infusions¹⁰ into financial companies, with the government taking an equity¹¹ share, in order to get the institutions lending again.

He says international bodies such as the World Bank, International Monetary¹² Fund, and regional development banks should reform their governing boards to make them more accountable, streamlined and effective.

"Similarly, the IMF and the World Bank need to accord dynamic emerging market economies greater representation and participation¹³ in their daily operations," he said.

Paulson urged cooperation among Democrats¹⁴ and Republicans in Congress and among world leaders, as they work through the crisis. He says future reforms must be consistent with free trade and open investment.

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

3 outdated   

adj.旧式的，落伍的，过时的；v.使过时

参考例句：

• That list of addresses is outdated,many have changed.那个通讯录已经没用了，许多地址已经改了。
• Many of us conform to the outdated customs laid down by our forebears.我们许多人都遵循祖先立下的过时习俗。

4 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

5 peril   

n.(严重的)危险；危险的事物

参考例句：

• The refugees were in peril of death from hunger.难民有饿死的危险。
• The embankment is in great peril.河堤岌岌可危。

6 humbling   

adj.令人羞辱的v.使谦恭( humble的现在分词 )；轻松打败（尤指强大的对手）；低声下气

参考例句：

• A certain humbling from time to time is good. 不时受点儿屈辱是有好处的。 来自辞典例句
• It has been said that astronomy is a humbling and character-buildingexperience. 据说天文学是一种令人产生自卑、塑造人格的科学。 来自互联网

7 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

8 initially   

adv.最初，开始

参考例句：

• The ban was initially opposed by the US.这一禁令首先遭到美国的反对。
• Feathers initially developed from insect scales.羽毛最初由昆虫的翅瓣演化而来。

9 collapsed   

adj.倒塌的

参考例句：

• Jack collapsed in agony on the floor. 杰克十分痛苦地瘫倒在地板上。
• The roof collapsed under the weight of snow. 房顶在雪的重压下突然坍塌下来。

10 infusions   

n.沏或泡成的浸液（如茶等）( infusion的名词复数 )；注入，注入物

参考例句：

• Intravenous infusions are also used to administer medications. 静脉输液也可作为一种给药方法。 来自辞典例句
• INTERPRETATION: GKI infusions significantly reduced plasma glucose concentrations and blood pressure. 结论：静脉滴注GKI显著降低血压和血糖浓度。 来自互联网

11 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

12 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

13 participation   

n.参与，参加，分享

参考例句：

• Some of the magic tricks called for audience participation.有些魔术要求有观众的参与。
• The scheme aims to encourage increased participation in sporting activities.这个方案旨在鼓励大众更多地参与体育活动。

14 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• The Democrats held a pep rally on Capitol Hill yesterday. 民主党昨天在国会山召开了竞选誓师大会。
• The democrats organize a filibuster in the senate. 民主党党员组织了阻挠议事。 来自《简明英汉词典》