VOA标准英语2009年-Democrats Outline US Financial Reform Plans

A key Democratic lawmaker has outlined his plans to use legislation the U.S. Congress would approve in coming months to impose greater controls on financial firms to protect investors¹ and help avoid another financial system collapse². Republicans stepped up pressure on Democrats³ over financial issues.
　
Rep. Barney Frank

In his most extensive remarks yet on reform plans, House Financial Services Committee Chairman Barney Frank detailed⁴ steps he says are needed to reduce systemic risk through increased regulation, and new restrictions⁵ on financial institutions.

A key to avoiding a repeat of the U.S. financial meltdown, says Frank, is to discourage excessive risk taking, a task he believes will likely fall to the U.S. Federal Reserve.

"There is an emerging consensus⁶ I believe that probably the Federal Reserve will be given the power to do systemic risk regulation, covering all forms of financial activity and it will have some flexibility⁷ as to what the reach is." he said.

Frank says it remains⁸ to be seen how much reach, or regulatory authority, this would entail⁹, adding he hopes Congress will have a general outline by April.

New authorities, he adds, should not weaken the capabilities¹⁰ of existing bodies such as the Securities and Exchange Commission.

Among other steps, Representative Frank is looking at establishing a commission to assess the reliability¹¹ of investment products, which grew sharply in number before the financial crisis.

Others include tougher restrictions on sub-prime loans, and government action to make rental¹² housing more affordable¹³.

Frank refers to what he calls deeply-rooted anger among average Americans about unfairness in the financial system, something he says banks and institutions must address.

"You cannot get credit restored without doing something that will be of benefit to the existing group of people. As I said to a couple of the bankers, here is the problem, people really hate you, and they are starting to hate us for hanging out with you and you have to help us deal with that. For example, you have to avoid being stupid," he said.

In explanation, Frank refers to billions of dollars in bonuses banks and other institutions paid out to executives even as companies received government bail¹⁴ out money.

Assuring accountability for how government funds are spent will be a key focus for lawmakers.

Next week, eight financial institution executives testify before Frank's committee on implementation¹⁵ of the much-criticized $700 billion Troubled Assets Relief Program, or TARP.

Frank's remarks came as House Republicans launched a new stage of pressure on majority Democrats and President Obama over that program.

In a letter to Treasury¹⁶ Secretary Timothy Geithner and National Economic Council chief Lawrence Summers, the Republicans ask the administration to provide an exit strategy from the TARP and what they call the government's sweeping¹⁷ involvement in financial markets.

President Obama and Geithner are expected to unveil details next week about new accountability and transparency rules for banks receiving government aid, amid reports the administration is preparing yet another financial institution support plan.

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

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 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》

4 detailed   

adj.详细的，详尽的，极注意细节的，完全的

参考例句：

• He had made a detailed study of the terrain.他对地形作了缜密的研究。
• A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

5 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

6 consensus   

n.(意见等的)一致，一致同意，共识

参考例句：

• Can we reach a consensus on this issue?我们能在这个问题上取得一致意见吗？
• What is the consensus of opinion at the afternoon meeting?下午会议上一致的意见是什么？

7 flexibility   

n.柔韧性，弹性，（光的）折射性，灵活性

参考例句：

• Her great strength lies in her flexibility.她的优势在于她灵活变通。
• The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。

8 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。

9 entail   

vt.使承担，使成为必要，需要

参考例句：

• Such a decision would entail a huge political risk.这样的决定势必带来巨大的政治风险。
• This job would entail your learning how to use a computer.这工作将需要你学会怎样用计算机。

10 capabilities   

n.能力( capability的名词复数 )；可能；容量；[复数]潜在能力

参考例句：

• He was somewhat pompous and had a high opinion of his own capabilities. 他有点自大，自视甚高。 来自辞典例句
• Some programmers use tabs to break complex product capabilities into smaller chunks. 一些程序员认为，标签可以将复杂的功能分为每个窗格一组简单的功能。 来自About Face 3交互设计精髓

11 reliability   

n.可靠性，确实性

参考例句：

• We mustn't presume too much upon the reliability of such sources.我们不应过分指望这类消息来源的可靠性。
• I can assure you of the reliability of the information.我向你保证这消息可靠。

12 rental   

n.租赁，出租，出租业

参考例句：

• The yearly rental of her house is 2400 yuan.她这房子年租金是2400元。
• We can organise car rental from Chicago O'Hare Airport.我们可以安排提供从芝加哥奥黑尔机场出发的租车服务。

13 affordable   

adj.支付得起的，不太昂贵的

参考例句：

• The rent for the four-roomed house is affordable.四居室房屋的房租付得起。
• There are few affordable apartments in big cities.在大城市中没有几所公寓是便宜的。

14 bail   

v.舀（水），保释；n.保证金，保释，保释人

参考例句：

• One of the prisoner's friends offered to bail him out.犯人的一个朋友答应保释他出来。
• She has been granted conditional bail.她被准予有条件保释。

15 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

16 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。

17 sweeping   

adj.范围广大的，一扫无遗的

参考例句：

• The citizens voted for sweeping reforms.公民投票支持全面的改革。
• Can you hear the wind sweeping through the branches?你能听到风掠过树枝的声音吗？