VOA标准英语2009年-US Fed Chief Urges Expanded Financial Regu

By Michael Bowman
Washington
01 October 2009

 
Federal Reserve Chairman Ben Bernanke (file photo)
America's central bank chief is urging U.S. lawmakers to expand the regulatory oversight¹ for banks to include other large financial and insurance firms whose failure could imperil the entire U.S. economy. Federal Reserve Chairman Ben Bernanke spoke² as Congress crafts legislation aimed at preventing a repeat of last year's financial turmoil³.

Scores of American banks have failed since the start of the financial crisis that helped plunge⁴ the United States into a deep and prolonged recession. But the firms most often blamed for precipitating⁵ the crisis were colossal⁶ investment houses, mortgage institutions, and insurance corporations, many of which required multi-billion-dollar bailouts or government takeovers to stay afloat.

While banks in the United States have historically been subject to robust⁷ government regulation, non-bank financial firms have been allowed to operate with a freer hand. Testifying before the House Financial Services Committee, Federal Reserve Chairman Ben Bernanke said this must change.

"The current financial crisis has clearly demonstrated that risk to the financial system can arise not only in the banking⁸ sector⁹, but also from the activities of other financial firms, such as investment banks and insurance companies that traditionally have not been subject to the type of regulation and consolidated¹⁰ supervision¹¹ applicable to bank holding companies," said Ben Bernanke. "To close this important gap in our regulatory structure, legislative¹² action is needed that would subject all systemically-important financial institutions to the same framework for consolidated supervision that currently applies to bank holding companies."

Bernanke suggested the Federal Reserve is "well suited" to provide that oversight.

He also urged Congress to strengthen consumer protection from abusive or predatory lending practices. It was the mass-issuance of mortgages to consumers with poor credit ratings that led to a rash of mortgage defaults and home foreclosures beginning in late 2007. Most financial firms that invested heavily in those debts suffered crushing losses from which they could not recover on their own.

The Fed chief spoke amid word of higher U.S. consumer spending, which rose 1.3 percent in August - the biggest jump in nearly eight years. Consumer spending accounts for more than two-thirds of U.S. economic activity. U.S. incomes edged slightly higher, and construction spending was also up.

On a less positive note, the number of newly laid off Americans seeking unemployment benefits totaled 551,000 last week, up from 534,000 the previous week. Economists¹³ say unemployment will likely remain stubbornly high for a year or more after the country emerges from recession.  

1 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。

2 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。

3 turmoil   

n.骚乱，混乱，动乱

参考例句：

• 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。

4 plunge   

v.跳入，(使)投入，(使)陷入；猛冲

参考例句：

• Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
• That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。

5 precipitating   

adj.急落的，猛冲的v.（突如其来地）使发生( precipitate的现在分词 )；促成；猛然摔下；使沉淀

参考例句：

• Precipitating electrode plate is a key part in electrostatic precipitation equipment. 静电收尘板是静电收尘设备中的关键部件。 来自互联网
• The precipitation bond adopts a sloped tube to enhance the precipitating efficiency. 沉淀池采用斜管，提高了沉降效率。 来自互联网

6 colossal   

adj.异常的，庞大的

参考例句：

• There has been a colossal waste of public money.一直存在巨大的公款浪费。
• Some of the tall buildings in that city are colossal.那座城市里的一些高层建筑很庞大。

7 robust   

adj.强壮的，强健的，粗野的，需要体力的，浓的

参考例句：

• She is too tall and robust.她个子太高，身体太壮。
• China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。

8 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。

9 sector   

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。

10 consolidated   

a.联合的

参考例句：

• With this new movie he has consolidated his position as the country's leading director. 他新执导的影片巩固了他作为全国最佳导演的地位。
• Those two banks have consolidated and formed a single large bank. 那两家银行已合并成一家大银行。

11 supervision   

n.监督，管理

参考例句：

• The work was done under my supervision.这项工作是在我的监督之下完成的。
• The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。

12 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。

13 economists   

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》