Obama urges Congress to implement Wall Street reform

 　　WASHINGTON, May 19 (Xinhua) -- U.S. President Barack Obama on Saturday urged Congress to finish implementing¹ Wall Street reform by finally putting in place banking² rules he signed into law two years ago, in order to protect U.S. consumers and help the economy.

　　Obama, in his weekly radio and Internet address, criticized Republicans in Congress for trying to delay and dismantle³ the critical reform aimed at protecting consumers and making Wall Street play by the same set of rules, and shielding taxpayers⁵ from irresponsible behavior on Wall Street that nearly destroyed the U. S. financial system and cost millions of jobs.

　　"And yet, for the past two years, too many Republicans in Congress and an army of financial industry lobbyists have actually been waging an all-out battle to delay, defund, and dismantle Wall Street reform," said Obama.

　　Referring to the more than 2 billion-dollar trading loss at JPMorgan Chase, the biggest U.S. bank, Obama warned that "without Wall Street reform, we could have found ourselves with the taxpayers once again on the hook for Wall Street's mistakes."

　　"That's why it's so important that Members of Congress stand on the side of reform, not against it; because we can't afford to go back to an era of weak regulation and little oversight⁶; where excessive risk-taking on Wall Street and a lack of basic oversight in Washington nearly destroyed our economy," Obama said.

　　"We've got to finish the job of implementing this reform and putting these rules in place," the U.S. president added.

　　Obama said that the new rules require that a big bank or financial institution should hold more cash on hand, so that it can pay for the loss, not the taxpayer⁴, if it makes a bad decision.

　　The new rules discourage big banks and financial institutions from making risky⁷ bets with taxpayer-insured money, and encourage them to do things that actually help the economy, including extending loans to entrepreneurs with good ideas, to middle-class families who want to buy a home, and to students who want to pursue higher education, Obama said.

1 implementing   

v.实现( implement的现在分词 )；执行；贯彻；使生效

参考例句：

• -- Implementing a comprehensive drug control strategy. ――实行综合治理的禁毒战略。 来自汉英非文学 - 白皮书
• He was in no hurry about implementing his unshakable principle. 他并不急于实行他那不可动摇的原则。 来自辞典例句

2 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。

3 dismantle   

vt.拆开，拆卸；废除，取消

参考例句：

• He asked for immediate help from the United States to dismantle the warheads.他请求美国立即提供援助，拆除这批弹头。
• The mower firmly refused to mow,so I decided to dismantle it.修完后割草机还是纹丝不动，于是，我决定把它拆开。

4 taxpayer   

n.纳税人

参考例句：

• The new scheme will run off with a lot of the taxpayer's money.这项新计划将用去纳税人许多钱。
• The taxpayer are unfavourably disposed towards the recent tax increase.纳税者对最近的增加税收十分反感。

5 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

6 oversight   

n.勘漏，失察，疏忽

参考例句：

• I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
• Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。

7 risky   

adj.有风险的，冒险的

参考例句：

• It may be risky but we will chance it anyhow.这可能有危险，但我们无论如何要冒一冒险。
• He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。