VOA标准英语2008年-JP Morgan Chase Buys Troubled Washington Mutual

As U.S. lawmakers grappled over a $700 billion dollar bank bailout plan, one of the nation's largest banks - Washington Mutual¹ Incorporated - collapsed³ under the weight of its enormous bad bets on the U.S. mortgage market. From Washington, VOA's Purnell Murdock reports on what is seen as the largest bank failure in U.S. history.
　
Pedestrians⁴ walk past Washington Mutual Inc. branch in downtown Seattle, Washington (file photo)

With financial markets reeling over the recent crisis on Wall Street, the collapse² of Seattle-based Washington Mutual could not have come at a worse time.

Federal regulators moved quickly, seizing the troubled mortgage lender late Thursday and selling the thrift's banking⁵ assets to U.S. investment bank J.P. Morgan for nearly $2 billion.

The Federal Deposit Insurance Company, FDIC, insures Americans' bank deposits of up to $100,000. But it says because of the deal it will not have to use its assets to cover Washington Mutual's deposits.

The FDIC had already spent billions of dollars in its takeover of IndyMac, which collapsed in July. Some analysts⁶ say a Washington Mutual failure could have used up half the money in the government insurance fund.

J.P. Morgan Chase said it plans to close less than 10 percent of the two companies' branches. The bank has not yet decided⁷ which to close. Kelsey Wesley, a Washington Mutual employee says employees are nervous. But adds the company, commonly known as WaMu, has been good to them in the past.

"I'm not gonna say that is not gonna happen but no matter what WaMu has a really impressive severance⁸ package and I think that's going to be carried on even if there is a merger," he said.

John Graybill, another Washington Mutual employee said he is optimistic.

"Of course we are going to have some uncertainties⁹ and some questioning about what's going on. Have I been nervous? Sure. That's the nature of the whole beast," he said. "When a large company gets bought out you wonder about your job. Are heads gonna roll? You just don't know but we have faith in our bosses and the people upstairs."

FDIC Chairwoman Sheila Bair says this will be a seamless transition for the bank's customers. She says there will be no interruption in services and bankers can expect business as usual.

Washington Mutual has been saddled with billions of dollars of debt because it heavily invested in selling risky¹⁰ subprime mortgages to customers who later defaulted on them.

This is J.P. Morgan's second purchase of a financial institution left vulnerable by the subprime mortgage crisis. It bought Bear Stearns for more than two-billion dollars earlier this year.

 

1 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• 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。

2 collapse   

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。

3 collapsed   

adj.倒塌的

参考例句：

• Jack collapsed in agony on the floor. 杰克十分痛苦地瘫倒在地板上。
• The roof collapsed under the weight of snow. 房顶在雪的重压下突然坍塌下来。

4 pedestrians   

n.步行者( pedestrian的名词复数 )

参考例句：

• Several pedestrians had come to grief on the icy pavement. 几个行人在结冰的人行道上滑倒了。 来自《简明英汉词典》
• Pedestrians keep to the sidewalk [footpath]! 行人走便道。 来自《现代汉英综合大词典》

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 analysts   

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。

7 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

8 severance   

n.离职金；切断

参考例句：

• Those laid off received their regular checks,plus vacation and severance pay.那些被裁的人都收到他们应得的薪金，再加上假期和解职的酬金。Kirchofer was terminated,effective immediately--without severance or warning.科奇弗被解雇了，立刻生效--而且没有辞退费或者警告。

9 uncertainties   

无把握( uncertainty的名词复数 )； 不确定； 变化不定； 无把握、不确定的事物

参考例句：

• One of the uncertainties of military duty is that you never know when you might suddenly get posted away. 任军职不稳定的因素之一是你永远不知道什么时候会突然被派往它处。
• Uncertainties affecting peace and development are on the rise. 影响和平与发展的不确定因素在增加。 来自汉英非文学 - 十六大报告

10 risky   

adj.有风险的，冒险的

参考例句：

• It may be risky but we will chance it anyhow.这可能有危险，但我们无论如何要冒一冒险。
• He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。