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VOA双语新闻:美美经济危机最大原因为缺少监管

时间:2011-04-18 05:59来源:互联网 提供网友:hv3553   字体: [ ]
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  The economic crisis has spread into many areas of the U.S. economy--banks, investment firms, insurance companies, and even the oil markets. Experts seem to agree that the trouble started with bad loans in the housing industry, and grew into a widespread crisis of confidence.
美国的经济危机已经扩散到许多领域,包括银行业、投资公司、保险公司,甚至石油市场。专家们似乎一致认为,所有麻烦都起源于房屋市场的坏债,然后逐步发展成范围广泛的信心危机。
Gus Faucher, the Director of Macroeconomics at the economic website Moody's Economy.com, is one of many experts who say the crisis began in the U.S. housing market. He says prices rose unrealistically high and credit was given too easily. "We had people who, in retrospect2, were given mortgage loans but should not have been given mortgage loans because they really could not afford them. So now we are seeing the effects of that," he said.
穆迪经济网站宏观经济主任格斯·福谢是许多认为眼下的经济危机最初始于美国房屋市场的专家之一。他说,房价涨得远远超出实际价格,而借贷又太容易。福谢说:“现在回头看一看,有些得到房屋贷款的人根本就不应该得到,因为他们根本就无法偿还。所以我们现在就看到了后果。”
International economist3 Robert Scott, at the Washington-based Economic Policy Institute, blames the Federal Reserve--the U.S. central bank--for allowing housing prices to rise too high. "For the last seven or eight years, until just the last year or so, Alan Greenspan, the former Chairman of the Federal Reserve, said that the housing market was sound, that there was nothing wrong with the rise in housing prices, (which) many, many economists4 were saying was unsustainable. So he let that bubble build up, he did nothing about it, and he bears a lot of responsibility for this crisis," Scott said.
设在华盛顿的经济政策研究所的国际经济学家罗伯特·斯考特怪罪美国中央银行“美联储”放任房价无节制地增长。斯考特说:“在过去七八年里,美联储主席格林斯潘一直在说,房屋市场是健康的,房价上涨也没有任何问题。但是许多经济学家却认为,这样高的房价是难以维持的。因此,是格林斯潘放任泡沫越吹越大,他要对眼下的危机承担很大的责任。”
But that may not be the whole reason. Ted1 Truman, a senior fellow at the Peterson Institute for International Economics, says while the financial woes5 started in the mortgage lending industry, the causes of those problems have been afflicting6 other financial markets. "Everybody calls it a subprime crisis, in the sense that if no subprime mortgages had ever been made, we would not have had a crisis. And even the thought that it is all about housing, I think, is an exaggeration. It is about easy credit, and financial engineering that went wild, and people who thought that the good times would never come to an end and were planning accordingly," Truman said.
但是这并不是所有的原因。彼特森国际经济研究所的资深研究员泰德·杜鲁门说,虽然麻烦始于房贷业,但是其他金融市场也问题重重。杜鲁门说:“每个人都说这是一场次级房贷危机,意思是说如果次级房贷没有出现麻烦,就不会出现现在的危机。我认为,即使把它说成整个房屋市场的麻烦,也是夸大其词。问题的根源在于金融机构滥发信贷,让人们感到经济的大好时光无边无际,并基于这种认识来计划投资。”
According to Faucher, the bad loans that were handed out by mortgage lenders are still causing trouble for consumers and for financial institutions. "There are simply a lot of bad housing-related securities out there. Those are falling in value. The problem is, we are not sure who is holding all of those. And as we find out about institutions that are holding them, those institutions start to fail, and that is causing problems throughout the entire financial system."
Faucher says banks are reluctant to lend to one another, because they are not sure which institutions are holding bad debt. He says the banks are also reluctant to make loans, so the entire system is coming to a halt. According to Faucher, worries that one failing financial institution could drag down others led the U.S. government to buy out most of the huge insurance company A.I.G.
"The Federal Reserve and the Treasury7 Department were concerned that A.I.G. is involved in many different financial markets. And they were concerned that if A.I.G. failed, that would bring down the entire financial system. So therefore, they decided8 to step in and have, essentially9, the federal government take over the firm."
Many economists, including Scott, believe tighter regulation could have prevented the crisis. "Mistake number one was failing to regulate the financial sector10. We should have required them to hold much greater reserves. They are not required to hold any reserves now. Secondly11, we should have limited which they can invest in these high-risk assets," Scott said.
包括经济政策研究所的罗伯特·斯考特在内的许多经济学家都认为,强化监管有可能防止眼下经济危机的发生。斯考特说:“最大的错误在于失去了对金融行业的监管。我们本应当要求他们增加储备金。按照法规,他们现在不需要有任何的储备金。第二个错误是,我们本应当对哪些人可以在高风险领域进行投资加以限制。”
Robert Reich, who was Labor12 Secretary under President Bill Clinton, says the troubles have worsened to this point because there was not enough regulation of the financial industry between 2002 and 2006, when the economy was strong.
克林顿总统任内的美国劳工部长罗伯特·赖克说,麻烦越来越大的根本原因在于从2002年到2006年,当美国经济状况很好的时候,对金融行业没有足够的监管。
"Wall Street increased its borrowing dramatically. Our financial institutions increased borrowing much faster than economic growth. Individuals increased their borrowing, also, much faster than economic growth. But nobody was minding the store. Our regulators were not overseeing the system to make sure that there was adequate disclosure (and) capital requirements, so that information could get to the right people at the right time. The system was no longer transparent13," he said.
赖克说:“华尔街大把大把地借钱,金融机构的借贷大大地超过了经济增长的速度。个人借贷也大大超过了经济的增长。没有人查看收支平衡。我们的监管人员也没有尽职尽责地监督我们的体系,保证有足够的信息公布和融资要求,以便让相关信息在正确的时候达到决策者手中。整个制度不再透明。”
Reich says America's financial markets need to adhere to the same standards that the U.S. encourages in other countries. "The United States continues to tell developing nations, as the I.M.F. and World Bank continue to tell developing nations, that they have to have a transparent capital market before capital will be attracted to them. Well, the same principle applies to the United States. Unless our markets are transparent, capital, at some point, is going to be afraid and start stampeding out of those markets, and that is exactly what has happened," he said.
In recent days, both U.S. presidential candidates, Republican John McCain and Democrat14 Barack Obama, have advocated tighter regulation of financial institutions. And U.S. Treasury Secretary Henry Paulson is said to be considering creating an institution to deal with troubled banks and investments.
近日来,两位总统候选人--共和党的麦凯恩和民主党的奥巴马--都在提倡加强对金融机构的监管。据称,美国财政部长保尔森正在考虑建立一个专门的机构,来处理身陷困境的银行和投资公司。


点击收听单词发音收听单词发音  

1 ted 9gazhs     
vt.翻晒,撒,撒开
参考例句:
  • The invaders gut ted the village.侵略者把村中财物洗劫一空。
  • She often teds the corn when it's sunny.天好的时候她就翻晒玉米。
2 retrospect xDeys     
n.回顾,追溯;v.回顾,回想,追溯
参考例句:
  • One's school life seems happier in retrospect than in reality.学校生活回忆起来显得比实际上要快乐。
  • In retrospect,it's easy to see why we were wrong.回顾过去就很容易明白我们的错处了。
3 economist AuhzVs     
n.经济学家,经济专家,节俭的人
参考例句:
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家,自以为什么都懂。
4 economists 2ba0a36f92d9c37ef31cc751bca1a748     
n.经济学家,经济专家( economist的名词复数 )
参考例句:
  • 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》
5 woes 887656d87afcd3df018215107a0daaab     
困境( woe的名词复数 ); 悲伤; 我好苦哇; 某人就要倒霉
参考例句:
  • Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
  • She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。
6 afflicting ozfzfp     
痛苦的
参考例句:
  • Violent crime is only one of the maladies afflicting modern society. 暴力犯罪仅仅是困扰现代社会的严重问题之一。
  • Violent crime is only one of the maladies afflicting modern society. 暴力犯罪仅仅是危害社会的弊病之一。
7 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。
8 decided lvqzZd     
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。
9 essentially nntxw     
adv.本质上,实质上,基本上
参考例句:
  • Really great men are essentially modest.真正的伟人大都很谦虚。
  • She is an essentially selfish person.她本质上是个自私自利的人。
10 sector yjczYn     
n.部门,部分;防御地段,防区;扇形
参考例句:
  • 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。
11 secondly cjazXx     
adv.第二,其次
参考例句:
  • Secondly,use your own head and present your point of view.第二,动脑筋提出自己的见解。
  • Secondly it is necessary to define the applied load.其次,需要确定所作用的载荷。
12 labor P9Tzs     
n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦
参考例句:
  • We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
  • He was completely spent after two weeks of hard labor.艰苦劳动两周后,他已经疲惫不堪了。
13 transparent Smhwx     
adj.明显的,无疑的;透明的
参考例句:
  • The water is so transparent that we can see the fishes swimming.水清澈透明,可以看到鱼儿游来游去。
  • The window glass is transparent.窗玻璃是透明的。
14 democrat Xmkzf     
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。
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