VOA慢速英语2010年-Economics Report - Banks Recover, But

This is the VOA Special English Economics Report.

Two thousand nine may be remembered as the year the world avoided an economic depression.

In the United States, stock prices sank to their lowest levels in March. But stocks recovered strongly for the year. The S & P Five Hundred index gained over twenty percent--its largest increase in six years.

Treasury¹ Secretary Timothy Geithner tells Congress in December that he is extending the TARP to October 2010

As two thousand nine ended, the nation's biggest banks rushed to repay money from the Troubled Asset Relief Program, or TARP. In October of two thousand eight, Congress approved up to seven hundred billion dollars to rescue the financial industry. Last month, the United States Treasury announced that Wells Fargo and Citibank had repaid forty-five billion dollars. They joined Goldman Sachs, J.P. Morgan, Morgan Stanley and Bank of America in returning government aid.

In June, the Treasury permitted the ten largest banks to return their rescue money and withdraw from TARP. This let banks escape government restrictions² on pay for top officials. Now, the government holds a large ownership share in only one big bank, Citigroup. The Treasury says it expects banks to repay one hundred seventy-five billion dollars of TARP money this year.

A Ford³ dealer⁴ advertises the government's so called "cash for clunkers" program to lift sales

The American car industry also had big problems in two thousand nine. Chrysler and General Motors sought bankruptcy⁵ protection from their creditors⁶. The restructured companies may still need government aid, which has already reached over sixty billion dollars. But a government program that paid Americans to trade in old vehicles for new, fuel-saving models increased car sales in the summer.

The Ford Motor Company refused government aid and is working to become profitable again by two thousand eleven. And there are signs that the industry is starting to recover.

However, the housing market continued to suffer its worst downturn in generations. Mortgage financer Fannie Mae reports that payments on five percent of its single-family home loans are late. The ten percent unemployment rate has meant that many people are struggling with their house payments.

Still, consumer confidence grew in December. Experts say Americans were feeling better about the job market and the economy. Growth in the United States is expected to reach about two and a half percent in two thousand ten.

And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.

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 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

3 Ford   

n.浅滩，水浅可涉处；v.涉水，涉过

参考例句：

• They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
• If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。

4 dealer   

n.商人，贩子

参考例句：

• The dealer spent hours bargaining for the painting.那个商人为购买那幅画花了几个小时讨价还价。
• The dealer reduced the price for cash down.这家商店对付现金的人减价优惠。

5 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

6 creditors   

n.债权人，债主( creditor的名词复数 )

参考例句：

• They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
• Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》