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VOA标准英语2008年-No Takeover for Fannie Mae, Freddie Mac

时间:2008-07-26 07:24来源:互联网 提供网友:王连金   字体: [ ]
    (单词翻译:双击或拖选)

The U.S. government says it will not take charge of the nation's two largest mortgage finance firms as their stock prices plunge1 in further signs of trouble for America's housing market. VOA White House Correspondent Scott Stearns has the story.
 
Energy Secretary Samuel Bodman, left, and Treasury2 Secretary Henry Paulson, center, look on as President Bush makes a statement at the Energy Department in Washington, 11 July 2008

U.S. Treasury Secretary Henry Paulson says the federal government's primary focus is supporting the mortgage finance companies in their current form.

For now, the written statement appears to rule out a government take over of Fannie Mae and Freddie Mac, which own or guarantee about $5 trillion worth of mortgages, more than half of the U.S. mortgage market.

Those firms have lost billions of dollars in the continuing decline of the U.S. housing market with record loan defaults and foreclosures.

Shares in the companies' stocks have lost close to 90 percent of their value in the last year. Investors3 are worried that Fannie Mae and Freddie Mac will lose more money and will have to borrow more to cover those losses.

Secretary Paulson said the Treasury is maintaining a dialogue with regulators and the companies as they take steps necessary to allow them to continue to perform what he called their important mission.

Congress created the firms to make mortgage loans more available to more Americans by buying up mortgages from banks, bundling them together, and reselling them to investors around the world.

If Fannie Mae or Freddie Mac were unable to raise additional capital, they might be unable to buy mortgages from lenders, making it much harder for people to get home loans

The federal government does not guarantee their debts, but most investors believe Washington would not allow the firms to collapse4, especially in a weak economy.

Speaking to reporters after a meeting with his top economic advisors5, U.S. President George Bush said Paulson and Federal Reserve Chairman Ben Bernanke will be working the issue of the mortgage giants very hard.

"Freddie Mac and Fannie Mae are very important institutions," he said. "We spent a fair amount of time discussing these institutions."

At a time of record high gasoline prices, President Bush again called on Democrats6 in Congress to expand offshore7 oil drilling and allow for drilling in an Alaskan wildlife refuge.

"These are tough economic times for American citizens," he added. "There is a way forward to help relieve some of the pressure on their pocketbooks, and I am looking forward to watching this Congress respond in a positive way."

Paulson's announcement sent U.S. stocks on a downward spiral Friday. The Dow industrials fell below the 11,000 level for the first time since August 2006, as oil topped a record $147 a barrel. Analysts8 say prices are up because of violence in Nigeria, a possible strike in Brazil, and continuing tensions between Israel and Iran.

 

 


点击收听单词发音收听单词发音  

1 plunge 228zO     
v.跳入,(使)投入,(使)陷入;猛冲
参考例句:
  • Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
  • That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。
2 treasury 7GeyP     
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。
3 investors dffc64354445b947454450e472276b99     
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
4 collapse aWvyE     
vi.累倒;昏倒;倒塌;塌陷
参考例句:
  • The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
  • The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。
5 advisors 9c02a9c1778f1533c47ade215559070d     
n.顾问,劝告者( advisor的名词复数 );(指导大学新生学科问题等的)指导教授
参考例句:
  • The governors felt that they were being strung along by their advisors. 地方长官感到他们一直在受顾问们的愚弄。 来自《现代汉英综合大词典》
  • We will consult together with advisors about her education. 我们将一起和专家商议她的教育事宜。 来自互联网
6 democrats 655beefefdcaf76097d489a3ff245f76     
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》
7 offshore FIux8     
adj.海面的,吹向海面的;adv.向海面
参考例句:
  • A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
  • A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。
8 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家,化验员( analyst的名词复数 )
参考例句:
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
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