NPR 2008-10-07

Stock prices plunged¹ again in the United States, taking a lead from overseas markets today. The Dow Jones Industrial Average finished below 10,000 for the first time since October of 2004. NPR's Jim Zarroli has more.

The Dow dropped nearly 8% at one point in the day though it later rebounded². It's now fallen 25% this year. The NASDAQ Composite Index is down nearly 30%. The downturn came despite a big financial bailout signed into law by President Bush last week. That bailout was supposed to help stabilize³ the financial markets. But Ard Hugen of Jefferies & Companies says that hasn't happened yet. "The problems are due to more global and their domestic, and I think that none of those are necessarily fixed⁴ with a rescue plan the US put together." He says credit remains⁵ tight, and there were big drops in the European and Asian markets. Investors⁶ are worried that the US mortgage market downturn has now spread to other countries and that a global recession looms⁷. Jim Zarroli, NPR News, New York.

On Wall Street, the Dow Jones Industrial Average closed down 369 points today, a decline of 3.5%, to end the session at 9955. The NASDAQ lost 84 points today. The S&P 500 was down 42 points.

A former Goldman Sachs investment banker has been given the nod to begin spending the $700 billion the government set aside to buy up some of the toxic⁸ assets of banks and financial firms. The government announced today that Neel Kashkari who has also served as an advisor⁹ to Treasury¹⁰ Secretary Henry Paulson won the government program at least on an interim¹¹ basis. Kashkari helped to draft the legislation, approving government program to be administered through new office of financial stability. Before his career in finance, the 35-year-old worked for NASA.

Lehman Brothers chief executive Richard Fuld testified today about the demise¹² of his firm before the House Government Reform Committee. NPR's Yuki Noguchi has more.

Richard Fuld open with what seemed like an apology to the country. "I take full responsibility for the decisions that I made and for the actions that I took." But he said media reports made him look resistant¹³ to selling his company. In fact, Lehman was caught in a financial tsunami¹⁴ that could have taken down any other financial institution, he said, and he did expect to contain the damage. "Contrary to what you may have read, I never turn down an offer to buy Lehman Brothers." Fuld faced stiff questions about the risk Lehman took with investors' money while collecting tens of millions of dollars in compensation for himself. Yuki Noguchi, NPR News, Washington.

The three judge panel has ruled that two of President Bush's top aides do not have to cooperate with a congressional investigation¹⁵ looking into the firings of nine federal prosecutors¹⁶ in 2006. It was court of appeals' ruling that overturns a district court order that would have required former White House counsel Harriet Miers to testify as well as Josh Bolten to turn over the documents.

This is NPR.

Pakistan today announced the deportation¹⁷ of around 50,000 Afghan refugees from a tribal¹⁸ region that has been home to insurgents¹⁹ and what has been built as a major offensive against al-Qaeda and the Taliban. The government said many of those being expelled have links to militant²⁰ groups. A local government official announced the arrest of around two dozen Afghans in the region and said they will be deported²¹. Officials also said in some instances, homes will be bulldozed to prevent them from returning. Meanwhile in the ongoing²² string of bombings against government and military targets in Pakistan, a suicide bomber²³ attacked a lawmaker's home in the east part of the country. At least 15 people were killed, 50 others were wounded.

China has canceled or postponed²⁴ a number of high level military contacts with the US in protest of planned arms sales to Taiwan. NPR's JJ Sutherland has more.

The move comes just days after the Defense²⁵ Department said it plans to sell a number of advanced weapons to Taiwan. A Defense Department spokesman said it is an apparent politicalization to China's military relationship with the US. The multi-billion-dollar deal includes missiles, helicopters and spare parts for Taiwan's airforce. The Chinese Embassy in Washington released a statement saying the sale of weapons would undermine China's national security and that they would respond with strong indignation. This move seems to be part of that. China views Taiwan as a breakaway province and urged Washington to oppose "Taiwan independence". The Defense Department says the arms sales are necessary for Taiwan's defense. JJ Sutherland, NPR news.

Crude oil futures²⁶ ended the sessions lower today. The near month contract for benchmark grade crude was down more than $6 a barrel today to settle at $87.81 a barrel on the New York Mercantile Exchange.

1 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

2 rebounded   

弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效

参考例句：

• The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
• The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。

3 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。

4 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

5 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

6 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

7 looms   

n.织布机( loom的名词复数 )v.隐约出现，阴森地逼近( loom的第三人称单数 )；隐约出现，阴森地逼近

参考例句：

• All were busily engaged,men at their ploughs,women at their looms. 大家都很忙，男的耕田，女的织布。 来自《简明英汉词典》
• The factory has twenty-five looms. 那家工厂有25台织布机。 来自《简明英汉词典》

8 toxic   

adj.有毒的，因中毒引起的

参考例句：

• The factory had accidentally released a quantity of toxic waste into the sea.这家工厂意外泄漏大量有毒废物到海中。
• There is a risk that toxic chemicals might be blasted into the atmosphere.爆炸后有毒化学物质可能会进入大气层。

9 advisor   

n.顾问，指导老师，劝告者

参考例句：

• They employed me as an advisor.他们聘请我当顾问。
• The professor is engaged as a technical advisor.这位教授被聘请为技术顾问。

10 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。

11 interim   

adj.暂时的，临时的；n.间歇，过渡期间

参考例句：

• The government is taking interim measures to help those in immediate need.政府正在采取临时措施帮助那些有立即需要的人。
• It may turn out to be an interim technology.这可能只是个过渡技术。

12 demise   

n.死亡；v.让渡，遗赠，转让

参考例句：

• He praised the union's aims but predicted its early demise.他赞扬协会的目标，但预期这一协会很快会消亡。
• The war brought about the industry's sudden demise.战争道致这个行业就这么突然垮了。

13 resistant   

adj.(to)抵抗的，有抵抗力的

参考例句：

• Many pests are resistant to the insecticide.许多害虫对这种杀虫剂有抵抗力。
• They imposed their government by force on the resistant population.他们以武力把自己的统治强加在持反抗态度的人民头上。

14 tsunami   

n.海啸

参考例句：

• Powerful quake sparks tsunami warning in Japan.大地震触发了日本的海啸预警。
• Coastlines all around the Indian Ocean inundated by a huge tsunami.大海啸把印度洋沿岸地区都淹没了。

15 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

16 prosecutors   

检举人( prosecutor的名词复数 )； 告发人； 起诉人； 公诉人

参考例句：

• In some places,public prosecutors are elected rather than appointed. 在有些地方，检察官是经选举而非任命产生的。 来自口语例句
• You've been summoned to the Prosecutors' Office, 2 days later. 你在两天以后被宣到了检察官的办公室。

17 deportation   

n.驱逐，放逐

参考例句：

• The government issued a deportation order against the four men.政府发出了对那4名男子的驱逐令。
• Years ago convicted criminals in England could face deportation to Australia.很多年以前，英国已定罪的犯人可能被驱逐到澳大利亚。

18 tribal   

adj.部族的，种族的

参考例句：

• He became skilled in several tribal lingoes.他精通几种部族的语言。
• The country was torn apart by fierce tribal hostilities.那个国家被部落间的激烈冲突弄得四分五裂。

19 insurgents   

n.起义，暴动，造反( insurgent的名词复数 )

参考例句：

• The regular troops of Baden joined the insurgents. 巴登的正规军参加到起义军方面来了。 来自《简明英汉词典》
• Against the Taliban and Iraqi insurgents, these problems are manageable. 要对付塔利班与伊拉克叛乱分子，这些问题还是可以把握住的。 来自互联网

20 militant   

adj.激进的，好斗的；n.激进分子，斗士

参考例句：

• Some militant leaders want to merge with white radicals.一些好斗的领导人要和白人中的激进派联合。
• He is a militant in the movement.他在那次运动中是个激进人物。

21 deported   

v.将…驱逐出境( deport的过去式和过去分词 )；举止

参考例句：

• They stripped me of my citizenship and deported me. 他们剥夺我的公民资格，将我驱逐出境。 来自《简明英汉词典》
• The convicts were deported to a deserted island. 罪犯们被流放到一个荒岛。 来自《简明英汉词典》

22 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

23 bomber   

n.轰炸机，投弹手，投掷炸弹者

参考例句：

• He flew a bomber during the war.他在战时驾驶轰炸机。
• Detectives hunting the London bombers will be keen to interview him.追查伦敦爆炸案凶犯的侦探们急于对他进行讯问。

24 postponed   

vt.& vi.延期，缓办，（使）延迟vt.把…放在次要地位；[语]把…放在后面（或句尾）vi.（疟疾等）延缓发作（或复发）

参考例句：

• The trial was postponed indefinitely. 审讯无限期延迟。
• The game has already been postponed three times. 这场比赛已经三度延期了。

25 defense   

n.防御，保卫；[pl.]防务工事；辩护，答辩

参考例句：

• The accused has the right to defense.被告人有权获得辩护。
• The war has impacted the area with military and defense workers.战争使那个地区挤满了军队和防御工程人员。

26 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。