VOA标准英语2008年-US Finance Chiefs Urge Congress to Pass Emergen

Federal Reserve Board Chairman Ben Bernanke and Treasury¹ Secretary Henry Paulson Tuesday implored² members of the Senate Banking³ Committee to quickly enact⁴ legislation that would permit the government to buy up bad housing-related loans that have negatively impacted credit markets. VOA's Barry Wood has more.
　
Federal Reserve Chairman Ben Bernanke, right, and Treasury Secretary Henry Paulson testify on Capitol Hill in Washington, before the Senate Banking Committee, 23 Sep 2008

Bernanke said quick action is required to stabilize⁵ financial markets and combat the threat of economic slowdown. He said markets wildly gyrated last week and dire⁶ consequences loomed⁷ as the government scrambled⁸ to come up with a plan to shore up bad housing related loans.

Treasury Secretary Paulson told skeptical⁹ lawmakers that the two-year long slump¹⁰ in the U.S. housing market is the cause of the crisis.

"The root cause is the housing correction [price declines], as you have all pointed¹¹ out, that has resulted in illiquid mortgage assets choking off the flow of credit, which is so vitally important to our economy," said Paulson.

Bernanke defended recent actions by the government to deal with the problem. Those measures since September 7, included taking over the two government sponsored entities¹² most involved in home finance, allowing the Lehman Brothers investment bank to fail, taking over AIG - the world's biggest insurer, and then announcing Friday a $700-billion rescue plan that must be approved by Congress.

Bernanke denied that the government has been too generous to the shareholders¹⁴ and managers of failing institutions.

"We have insisted on bringing the shareholder¹³ value down close to zero, imposing¹⁵ tough terms and so on. But the firms we are dealing¹⁶ with now [with the proposed legislation] are not necessarily failing," he said. "They are contracting, de-leveraging and pulling back. And they will be unwilling¹⁸ to make credit available as long as market conditions are as they are now."

Lawmakers were insistent¹⁹ that bankers not be rescued at the expense of ordinary homeowners and consumers. Both Bernanke and Paulson agreed, but said without a comprehensive bailout all consumers will suffer.

Paulson, who was a top executive of the Goldman Sachs investment bank before coming to Washington, blamed weak regulation for the abuses in mortgage finance.

"I was shocked, absolutely shocked [when I arrived in DC two years ago], to find that it was not deregulation or too much regulation or too little regulation, it was just a flawed regulatory structure built for a different model," said Paulson.

In 1999 Congress gave increased freedoms to the financial service industry, but failed to create a comprehensive regulatory structure.

President Bush, speaking at the United Nations in New York, said he is acting¹⁷ decisively to contain the financial crisis. The administration wants Congress to approve the rescue legislation before its scheduled adjournment²⁰ on Friday, but there is no clear indication that that timetable will hold.

 

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 implored   

恳求或乞求（某人）( implore的过去式和过去分词 )

参考例句：

• She implored him to stay. 她恳求他留下。
• She implored him with tears in her eyes to forgive her. 她含泪哀求他原谅她。

3 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

4 enact   

vt.制定(法律)；上演，扮演

参考例句：

• The U.S. Congress has exclusive authority to enact federal legislation.美国国会是唯一有权颁布联邦法律的。
• For example,a country can enact laws and economic policies to attract foreign investment fairly quickly.例如一个国家可以很快颁布吸引外资的法令和经济政策。

5 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。

6 dire   

adj.可怕的，悲惨的，阴惨的，极端的

参考例句：

• There were dire warnings about the dangers of watching too much TV.曾经有人就看电视太多的危害性提出严重警告。
• We were indeed in dire straits.But we pulled through.那时我们的困难真是大极了，但是我们渡过了困难。

7 loomed   

v.隐约出现，阴森地逼近( loom的过去式和过去分词 )；隐约出现，阴森地逼近

参考例句：

• A dark shape loomed up ahead of us. 一个黑糊糊的影子隐隐出现在我们的前面。
• The prospect of war loomed large in everyone's mind. 战事将起的庞大阴影占据每个人的心。 来自《简明英汉词典》

8 scrambled   

v.快速爬行( scramble的过去式和过去分词 )；攀登；争夺；（军事飞机）紧急起飞

参考例句：

• Each scrambled for the football at the football ground. 足球场上你争我夺。 来自《现代汉英综合大词典》
• He scrambled awkwardly to his feet. 他笨拙地爬起身来。 来自《简明英汉词典》

9 skeptical   

adj.怀疑的，多疑的

参考例句：

• Others here are more skeptical about the chances for justice being done.这里的其他人更为怀疑正义能否得到伸张。
• Her look was skeptical and resigned.她的表情是将信将疑而又无可奈何。

10 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

11 pointed   

adj.尖的，直截了当的

参考例句：

• He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
• She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。

12 entities   

实体对像； 实体，独立存在体，实际存在物( entity的名词复数 )

参考例句：

• Our newspaper and our printing business form separate corporate entities. 我们的报纸和印刷业形成相对独立的企业实体。
• The North American continent is made up of three great structural entities. 北美大陆是由三个构造单元组成的。

13 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

14 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

15 imposing   

adj.使人难忘的，壮丽的，堂皇的，雄伟的

参考例句：

• The fortress is an imposing building.这座城堡是一座宏伟的建筑。
• He has lost his imposing appearance.他已失去堂堂仪表。

16 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

17 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• Ignore her,she's just acting.别理她，她只是假装的。
• During the seventies,her acting career was in eclipse.在七十年代，她的表演生涯黯然失色。

18 unwilling   

adj.不情愿的

参考例句：

• The natives were unwilling to be bent by colonial power.土著居民不愿受殖民势力的摆布。
• His tightfisted employer was unwilling to give him a raise.他那吝啬的雇主不肯给他加薪。

19 insistent   

adj.迫切的，坚持的

参考例句：

• There was an insistent knock on my door.我听到一阵急促的敲门声。
• He is most insistent on this point.他在这点上很坚持。

20 adjournment   

休会； 延期； 休会期； 休庭期

参考例句：

• The adjournment of the case lasted for two weeks. 该案休庭期为两周。
• The solicitor moved for an adjournment of the case. 律师请求将这个案件的诉讼延期。