voa标准英语2008年-Another Down Day for World Markets

From Asia to the Americas, world stock markets are weathering another day of losses. VOA's Michael Bowman reports from Washington that the global sell-off comes as the Bush administration announces a major shift in its strategy to rescue troubled financial institutions, while congressional leaders pledge efforts to prop¹ up America's battered² automobile⁴ industry.

Last month, the U.S. Congress approved a $700 billion rescue package to save financial firms hit hard by a rash of home foreclosures. The goal was to unfreeze tight credit and lessen⁵ the severity of an economic downturn that has spread across the globe.

At the time, the U.S. Treasury⁶ said a significant portion of the funds would be used to purchase so-called "troubled assets" - bad debt stemming from mortgages defaulted on by borrowers. With debt burdens lifted, it was hoped that banks and other financial institutions would be strengthened, and the credit crunch⁷ would ease.

Now the plan has changed. Treasury Secretary Henry Paulson spoke⁸ at a news conference on Wednesday.
　

Henry Paulson

"Over these past weeks, we have continued to examine the relative benefits of purchasing illiquid mortgage-related assets," he said. "Our assessment⁹ at this time is that this is not the most effective way to use [government bailout] funds. But we will continue to examine whether targeted forms of asset purchase can play a useful role in helping¹⁰ to strengthen our financial system and support lending."

The Bush administration has embarked¹¹ on an unprecedented¹² program of direct government investment in banks through stock purchases - effectively partially¹³ nationalizing America's banking¹⁴ system. Governments in Europe and elsewhere have taken similar steps in recent weeks.

Treasury Secretary Paulson also spoke of his intention to boost institutions that provide consumer credit in the form of credit cards as well as student and automobile loans.

Tight credit conditions have added to the woes¹⁵ of U.S. carmakers, as some consumers have been unable to get loans to purchase vehicles. But U.S. automakers were ailing¹⁶ even before the financial crisis struck, losing market share to foreign brands that provide more choices for fuel-efficient vehicles. In addition, American carmakers have been saddled with hefty costs stemming from pensions for retired¹⁷ employees and pricey health insurance premiums¹⁸ for its workforce¹⁹.
　

General Motors CEO Rick Wagoner at a news conference in Detroit with company Product Development Vice20 Chairman Bob Lutz, right. 07 Nov, 2008

After years of steep losses, the top-three U.S. automakers - General Motors, Ford²¹ and Chrysler - say they could face bankruptcy²² in coming months. Such an outcome is unthinkable, according to Governor Jennifer Granholm of Michigan, where the America's automobile industry is headquartered.

"This industry supports one-in-ten jobs in the country. If this industry is allowed to fail, there will be a ripple²³ effect throughout the nation," said Granholm.

Democratic Congressional leaders are pressing for an emergency $25 billion loan to automakers as part of the $700 billion financial rescue package.

Michigan Senator Carl Levin says the amount being discussed is tiny compared to the funds spent to prop up the country's largest insurance firm, American International Group, or AIG.
　

Senator Carl Levin, 07 Dec 2007

"One hundred-fifty billion dollars has gone to one insurance giant - AIG. Twenty-five billion dollars in a direct bridge loan to the auto³ industry, given its unique central role in this economy, does not seem at all out of line [i.e., unreasonable]," said Levin.

But skeptics argue that such an infusion²⁴ of government funds would only postpone²⁵ bankruptcy without addressing the underlying²⁶ causes of the decline in American car manufacturing. They point out that several U.S. airlines have gone through bankruptcy and reorganization and emerged stronger for having done so.

1 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

2 battered   

adj.磨损的；v.连续猛击；磨损

参考例句：

• He drove up in a battered old car.他开着一辆又老又破的旧车。
• The world was brutally battered but it survived.这个世界遭受了惨重的创伤,但它还是生存下来了。

3 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

4 automobile   

n.汽车，机动车

参考例句：

• He is repairing the brake lever of an automobile.他正在修理汽车的刹车杆。
• The automobile slowed down to go around the curves in the road.汽车在路上转弯时放慢了速度。

5 lessen   

vt.减少，减轻；缩小

参考例句：

• Regular exercise can help to lessen the pain.经常运动有助于减轻痛感。
• They've made great effort to lessen the noise of planes.他们尽力减小飞机的噪音。

6 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。

7 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

8 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

9 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？

10 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

11 embarked   

乘船( embark的过去式和过去分词 )； 装载； 从事

参考例句：

• We stood on the pier and watched as they embarked. 我们站在突码头上目送他们登船。
• She embarked on a discourse about the town's origins. 她开始讲本市的起源。

12 unprecedented   

adj.无前例的，新奇的

参考例句：

• The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
• A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。

13 partially   

adv.部分地，从某些方面讲

参考例句：

• The door was partially concealed by the drapes.门有一部分被门帘遮住了。
• The police managed to restore calm and the curfew was partially lifted.警方设法恢复了平静，宵禁部分解除。

14 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。

15 woes   

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。

16 ailing   

v.生病

参考例句：

• 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。

17 retired   

adj.隐退的，退休的，退役的

参考例句：

• The old man retired to the country for rest.这位老人下乡休息去了。
• Many retired people take up gardening as a hobby.许多退休的人都以从事园艺为嗜好。

18 premiums   

n.费用( premium的名词复数 )；保险费；额外费用；（商品定价、贷款利息等以外的）加价

参考例句：

• He paid premiums on his life insurance last year. 他去年付了人寿保险费。 来自《现代英汉综合大词典》
• Moves are afoot to increase car insurance premiums. 现正在酝酿提高汽车的保险费。 来自《简明英汉词典》

19 workforce   

n.劳动大军，劳动力

参考例句：

• A large part of the workforce is employed in agriculture.劳动人口中一大部分受雇于农业。
• A quarter of the local workforce is unemployed.本地劳动力中有四分之一失业。

20 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

21 Ford   

n.浅滩，水浅可涉处；v.涉水，涉过

参考例句：

• They were guarding the bridge,so we forded the river.他们驻守在那座桥上，所以我们只能涉水过河。
• If you decide to ford a stream,be extremely careful.如果已决定要涉过小溪，必须极度小心。

22 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。

23 ripple   

n.涟波，涟漪，波纹，粗钢梳；vt.使...起涟漪，使起波纹； vi.呈波浪状，起伏前进

参考例句：

• The pebble made a ripple on the surface of the lake.石子在湖面上激起一个涟漪。
• The small ripple split upon the beach.小小的涟漪卷来，碎在沙滩上。

24 infusion   

n.灌输

参考例句：

• Old families need an infusion of new blood from time to time.古老的家族需要不时地注入新鲜血液。
• Careful observation of the infusion site is necessary.必须仔细观察输液部位。

25 postpone   

v.延期，推迟

参考例句：

• I shall postpone making a decision till I learn full particulars.在未获悉详情之前我得从缓作出决定。
• She decided to postpone the converastion for that evening.她决定当天晚上把谈话搁一搁。

26 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。