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VOA标准英语2008年-Major Central Banks Attempt to Reassure Global

时间:2008-11-21 05:40来源:互联网 提供网友:tingroomm   字体: [ ]

Central banks of the leading industrialized nations are working together to try to ease a financial crisis that originated in the United States but has roiled1 markets worldwide. From Washington, VOA's Michael Bowman reports.
A Wall Street street sign is seen near the New York Stock Exchange in New York, 15 Sept 2008

Amid widespread fears that the cascading2 failure of many of America's largest and best-known financial institutions could severely3 restrict the availability of credit worldwide, major central banks are acting4 in concert to dampen economic shockwaves that have spread from the United States to Europe, Asia, and elsewhere.

The U.S. Federal Reserve, along with central banks in Canada, the European Union and Asia, have pumped at least $200 billion into financial markets. The action helped boost European stock markets after several days of heavy losses, although trading was again suspended in Russia, and Asian markets closed lower.
President George W. Bush at the White House, 17 Sep 2008

At the White House, President Bush took note of the central bank action. In a brief statement before meeting with top economic advisors5, a stern-faced Mr. Bush noted6 a series of aggressive steps taken by the U.S. government in recent weeks - from bailing7 out ailing8 investment and insurance firms, and taking over failing U.S. mortgage giants to cracking down on market manipulators.

"These actions are necessary, and they are important," President Bush said. "And the markets are adjusting to them. Our financial markets continue to deal with serious challenges. As our recent actions demonstrate, my administration is focused on meeting these challenges. The American people can be sure we will continue to act to strengthen and stabilize9 our financial markets and improve investor10 confidence."

Recent financial upheaval11 is having a negative effect on the U.S. stock market as a whole, including the stocks of many otherwise-healthy companies, according to Eugene Peroni, a market strategist for the financial services firm Advisors Asset Management.

"The market might be overshooting here at bit [overreacting to negative news]," he said. "In other words, yes there are some companies that are really in trouble, but there are some companies that are simply being dragged down in this [market] rout12."

And the string of large financial firm collapses13 may not be over. A major U.S. thrift14 bank, Washington Mutual15, is reportedly teetering on the edge of insolvency16. News reports of panic among some depositors led the Chairwoman of the Federal Deposit Insurance Corporation, Sheila Bair, to remind the public that their bank accounts are secure.

"If you stay within our coverage17 limits, your money is absolutely safe," said Sheila Bair. "And, yes, that guarantee has been good for 75 years and will continue to be so. Nobody has ever lost a penny of FDIC-insured deposits."

What few economists18 or market prognosticators seem to be able to predict is when the financial crisis will end. Earlier this week, Treasury19 Secretary Henry Paulson said uncertainty20 will prevail as long as the U.S. housing sector21 remains22 beset23 with falling home values and foreclosures.
A sale sign sits in front of a home in the Shaker Heights section of Cleveland, Ohio (File)

"Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we are going to continue to have turmoil24 in the financial markets," Paulson said.

For more than a year, the U.S. housing sector has been stung by a rash of foreclosures, principally among those who acquired mortgages to buy homes despite poor credit ratings. Those so-called "sub-prime mortgages" are no longer being offered by major financial institutions, and leaders in both major U.S. political parties seem to agree on the need for establishing stricter lending standards to ensure that there is no repeat of the financial debacle.



1 roiled 0ba0e552298d089c7bb10f9d69827246     
v.搅混(液体)( roil的过去式和过去分词 );使烦恼;使不安;使生气
  • American society is being roiled by the controversy over homosexual marriage. 当今美国社会正被有关同性恋婚姻的争论搞得不得安宁。 来自互联网
  • In the past few months, instability has roiled Tibet and Tibetan-inhabited areas. 在过去的几个月里,西藏和藏人居住区不稳定。 来自互联网
2 cascading 45d94545b0f0e2da398740dd24a26bfe     
流注( cascade的现在分词 ); 大量落下; 大量垂悬; 梯流
  • First of all, cascading menus are to be avoided at all costs. 首先,无论如何都要避免使用级联菜单。 来自About Face 3交互设计精髓
  • Her sounds began cascading gently. 他的声音开始缓缓地低落下来。
3 severely SiCzmk     
  • He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
  • He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。
4 acting czRzoc     
  • 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。
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
  • 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 noted 5n4zXc     
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。
7 bailing dc539a5b66e96b3b3b529f4e45f0d3cc     
  • Both fountains were going furiously and both pumps bailing with might and main. 两个人的口水只管喷泉似地朝外涌,两个抽水机全力以赴往外抽水。
  • The mechanical sand-bailing technology makes sand-washing operation more efficient. 介绍了机械捞砂的结构装置及工作原理,提出了现场操作注意事项。
8 ailing XzzzbA     
  • They discussed the problems ailing the steel industry. 他们讨论了困扰钢铁工业的问题。
  • She looked after her ailing father. 她照顾有病的父亲。
9 stabilize PvuwZ     
  • 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。
10 investor aq4zNm     
  • My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
  • The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。
11 upheaval Tp6y1     
  • It was faced with the greatest social upheaval since World War Ⅱ.它面临第二次世界大战以来最大的社会动乱。
  • The country has been thrown into an upheaval.这个国家已经陷入动乱之中。
12 rout isUye     
  • The enemy was put to rout all along the line.敌人已全线崩溃。
  • The people's army put all to rout wherever they went.人民军队所向披靡。
13 collapses 9efa410d233b4045491e3d6f683e12ed     
折叠( collapse的第三人称单数 ); 倒塌; 崩溃; (尤指工作劳累后)坐下
  • This bridge table collapses. 这张桥牌桌子能折叠。
  • Once Russia collapses, the last chance to stop Hitler will be gone. 一旦俄国垮台,抑止希特勒的最后机会就没有了。
14 thrift kI6zT     
  • He has the virtues of thrift and hard work.他具备节俭和勤奋的美德。
  • His thrift and industry speak well for his future.他的节俭和勤勉预示着他美好的未来。
15 mutual eFOxC     
  • We must pull together for mutual interest.我们必须为相互的利益而通力合作。
  • Mutual interests tied us together.相互的利害关系把我们联系在一起。
16 insolvency O6RxD     
  • The company is on the verge of insolvency.该公司快要破产了。
  • Normal insolvency procedures should not be applied to banks.通常的破产程序不应当适用于银行。
17 coverage nvwz7v     
  • There's little coverage of foreign news in the newspaper.报纸上几乎没有国外新闻报道。
  • This is an insurance policy with extensive coverage.这是一项承保范围广泛的保险。
18 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家,经济专家( economist的名词复数 )
  • The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
  • Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
19 treasury 7GeyP     
  • 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。
20 uncertainty NlFwK     
  • Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
  • After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后,压力开始产生影响了。
21 sector yjczYn     
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
22 remains 1kMzTy     
  • 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。
23 beset SWYzq     
  • She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
  • The plan was beset with difficulties from the beginning.这项计划自开始就困难重重。
24 turmoil CKJzj     
  • His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
  • The robbery put the village in a turmoil.抢劫使全村陷入混乱。
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