VOA标准英语2008年-Volatile Markets Pressure US Lawmakers on Emerg

Members of Congress are demanding more taxpayer¹ protections and congressional oversight² in the $700 billion bailout plan lawmakers are expected to debate this week to rescue failing U.S. financial institutions. As VOA's Dan Robinson reports from Capitol Hill, Congress is facing renewed pressure from volatile³ financial markets.

Under the plan, the federal government would spend hundreds-of-billions of dollars to purchase devalued assets, particularly U.S. mortgage debt, that has weighed down key financial companies.

But while there has been progress in negotiations⁴ with the White House, the Treasury⁵ Secretary and others, legislation has yet to be finalized⁶.

Continuing volatility⁷ on Wall Street and in European markets on Monday, including a drop of nearly 373 points in the key Dow Jones industrial average, had lawmakers even more concerned about market confidence.
　
U.S. House Speaker Nancy Pelosi

House of Representatives Speaker Nancy Pelosi and other Democratic leaders attempted to send a message aimed at calming market fears.

"We have all been engaged in bipartisan conversations, conversations between the legislative⁹ branch and the executive branch, to move in a direction that will give confidence to the markets that this legislation will pass and it will pass soon," she said.

Earlier, some House and Senate lawmakers voiced misgivings¹⁰ about the Bush administration proposal.

"[Treasury] Secretary [Henry] Paulson wants to set it up so that the taxpayers¹¹ at best, and in all likelihood this couldn't happen, might break even some day," said Representative Peter DeFazio, an Oregon Democrat⁸. "No, we need to take an equity¹² assurance in these firms or we need to extend them loans. Have them mark down this junk to market it, there is a market for it. It's about 22 cents on the dollar; make them mark it down."

Representative Cliff Stearns is a Florida Republican.

"This plan increases our excessively high national debt to $11.3 trillion while also allowing foreign banks which hold U.S. mortgage debt to benefit from the billions provided by this bailout," he said. "This plan constitutes the largest government bailout in history. Yet it does nothing to protect the taxpayers."
　
Rep. Harry¹³ Reid

Senate Majority Leader Harry Reid said Democrats¹⁴ are committed to acting¹⁵. But he echoed calls for more accountability in any final legislation.

"We will not let haste abandon good judgment¹⁶ in the process," he noted¹⁷. "The Bush administration has called on Congress to rubber stamp its bailout legislation, without serious debate or efforts to improve it. We can't let that happen."

Democrats also took the opportunity to place blame on President Bush and his economic policies.

Senator Barbara Mikulski was among Democrats saying that despite the urgency, lawmakers must exercise caution and not provide a "blank check" for the financial rescue plan.

"This senator will not be stampeded into voting for this Bush administration bill," she said. "So far during the last seven years, every time there is a crisis, they generate fear and they generate bad ideas."

As negotiations continue, there are conflicting accounts about unresolved issues.
　
House Financial Services Committee chairman Barney Frank, 22 Sep 2008

House Financial Services Committee Chairman Barney Frank told reporters on Monday that "some resistance" remains¹⁸ on preventing foreclosures on mortgages the government would acquire under the Bush plan. Other areas of concern, he said, include bankruptcy¹⁹ provisions and restricting salary compensation for executives.

Frank said the administration agreed on the need for creation of a special oversight board.

"We are talking about a very powerful board with its own budget and funding that will get all of the reports and all the information," he explained, "but won't have any operational role [but will ask], 'What are you buying, what is your assumption about how you are buying, what kind of companies are you buying it [assets] in?"

House Speaker Pelosi said late Monday that Democrats are committed to working with Republicans to come up with a bipartisan measure, but said, "we are not sending a blank check to Wall Street."

Democrats want the House and Senate to consider identical pieces of legislation on the financial rescue plan.

 

1 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。

2 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。

3 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

4 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

5 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。

6 finalized   

vt.完成（finalize的过去式与过去分词形式）

参考例句：

• The draft of this article has been finalized [done]. 这篇文章已经定稿。 来自《现代汉英综合大词典》
• The draft was revised several times before it was finalized. 稿子几经删改才定下来。 来自《现代汉英综合大词典》

7 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

8 democrat   

n.民主主义者，民主人士；民主党党员

参考例句：

• The Democrat and the Public criticized each other.民主党人和共和党人互相攻击。
• About two years later,he was defeated by Democrat Jimmy Carter.大约两年后，他被民主党人杰米卡特击败。

9 legislative   

n.立法机构，立法权；adj.立法的，有立法权的

参考例句：

• Congress is the legislative branch of the U.S. government.国会是美国政府的立法部门。
• Today's hearing was just the first step in the legislative process.今天的听证会只是展开立法程序的第一步。

10 misgivings   

n.疑虑，担忧，害怕；疑虑，担心，恐惧( misgiving的名词复数 )；疑惧

参考例句：

• I had grave misgivings about making the trip. 对于这次旅行我有过极大的顾虑。
• Don't be overtaken by misgivings and fear. Just go full stream ahead! 不要瞻前顾后， 畏首畏尾。甩开膀子干吧！ 来自《现代汉英综合大词典》

11 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。

12 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

13 harry   

vt.掠夺，蹂躏，使苦恼

参考例句：

• Today,people feel more hurried and harried.今天，人们感到更加忙碌和苦恼。
• Obama harried business by Healthcare Reform plan.奥巴马用医改掠夺了商界。

14 democrats   

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》

15 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• 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。

16 judgment   

n.审判；判断力，识别力，看法，意见

参考例句：

• The chairman flatters himself on his judgment of people.主席自认为他审视人比别人高明。
• He's a man of excellent judgment.他眼力过人。

17 noted   

adj.著名的，知名的

参考例句：

• 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。

18 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。

19 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。