VOA标准英语2009年-US Bank Executives Challenged on Lending, Pledg

Executives of major U.S. banks faced tough questions Wednesday from U.S. lawmakers frustrated¹ by the slow pace of lending by institutions that received federal bail² out money. Lawmakers also vented³ their anger over high salaries and bonuses in the financial industry, warning the executives they need to accept greater transparency and re-build public trust.
　
From (L), Bank of NY Mellon CEO Robert Kelly; Bank of America CEO Ken⁴ Lewis; State Street Corp. CEO Ronald Logue, 11 Feb 2009

Amid the distress⁵ of the U.S. recession, and public anger over how government support funds have been spent to prop⁶ up financial institutions, executives said they favor steps by Congress and the Obama administration to impose greater accountability.

"Taxpayers⁸ want to see how we are using this money to re-start the economy and want us to manage our expenses carefully. These expectations are appropriate and we are working to meet them," said Ken Lewis, CEO of Bank of America.

"The American people are right to expect that we use the TARP funds responsibly, quickly and transparently⁹ to help Americans," added Vikram Pandit of Citigroup.

Americans, added Pandit, also have a right to expect a return on their investments in the $700 billion Troubled Asset Relief Program, or TARP.

That, and questions about how individual banks have or have not used funds to expand lending and help repair the crumbled¹⁰ credit market dominated the House Financial Services Committee hearing.

"Taxpayers have lent their money to the big banks who are supposed to be big business persons [with] expertise¹¹ in business management, who are failing, they have gone back to ask for some assistance [and] they are being denied," said Democrat¹² Maxine Waters.

The criticism was bipartisan, as lawmakers from both parties also highlighted the issue of bonuses paid by banks, and million-dollar salaries.
　
Rep. Barney Frank

"We believe success should be rewarded, but what gets people upset and rightfully so are executives being rewarded for failure especially when those rewards are being subsidized by the U.S. taxpayers," said Texas Republican Jeb Hensarling.

"Why do you need bonuses? Can't we just give you a good salary, or give yourselves a good salary [because] you're in charge of that, and do the job? This notion that you need some special incentive¹³ to do the right thing troubles people," said committee chair Barney Frank, Democrat from Massachusetts.

Executives said that while federal funds were used to improve their capital base, banks have done what they can to expand lending.

John Stumpf of Wells Fargo said his company made more than $500 billion in new loan commitments over the last 18 months.

"Last quarter alone we made $22 billion in new loan commitments, and $50 billion in new mortgages, a total of $72 billion in new loans," said Stumpf.

Public anger has been fueled by media reports that banks and institutions receiving public funds handed out more than $18 billion in bonuses and that some continued the practice of spending on employee retreats.

Democrat Paul Kanjorski warned that banks will be under ever-increasing scrutiny¹⁴.

"As executives at large companies, you once lived in a one-way mirror, unaccountable to the public at large, and often sheltered from shareholder's scrutiny. But when you took taxpayer⁷ money you moved into a fishbowl. Now everyone is rightly watching your every move from every side," he said.

James Dimon of JP Morgan Chase and John Mack of Morgan Stanley voiced support for plans by congressional Democrats¹⁵ for reforms, including a proposal to create a powerful new authority to regulate financial risk.

"In the short term this will allow us to begin to address some of the underlying¹⁶ weaknesses in our system, and fill the gaps in regulation that contributed to the current situation," Dimon said.

"We need to fundamentally improve systemic regulation. Our fragmented regulatory structure simply hasn't kept pace with the increasingly complex global market," added Mack.

Lloyd Blankfein, CEO of Goldman Sachs, agrees banks need to regain¹⁷ public trust.

"It is abundantly clear that we are here amidst broad public anger at our industry. Many people believe, and in many cases justifiably¹⁸ so, that Wall Street lost sight of its larger public obligations and allowed certain trends and practices to undermine the financial system's stability," he said.

Congressman¹⁹ Frank has said he would like to see substantial progress on financial system reforms in coming months.

1 frustrated   

adj.挫败的，失意的，泄气的v.使不成功( frustrate的过去式和过去分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's very easy to get frustrated in this job. 这个工作很容易令人懊恼。
• The bad weather frustrated all our hopes of going out. 恶劣的天气破坏了我们出行的愿望。 来自《简明英汉词典》

2 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。

3 vented   

表达，发泄（感情，尤指愤怒）( vent的过去式和过去分词 )

参考例句：

• He vented his frustration on his wife. 他受到挫折却把气发泄到妻子身上。
• He vented his anger on his secretary. 他朝秘书发泄怒气。

4 ken   

n.视野，知识领域

参考例句：

• Such things are beyond my ken.我可不懂这些事。
• Abstract words are beyond the ken of children.抽象的言辞超出小孩所理解的范围.

5 distress   

n.苦恼，痛苦，不舒适；不幸；vt.使悲痛

参考例句：

• Nothing could alleviate his distress.什么都不能减轻他的痛苦。
• Please don't distress yourself.请你不要忧愁了。

6 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。

7 taxpayer   

n.纳税人

参考例句：

• The new scheme will run off with a lot of the taxpayer's money.这项新计划将用去纳税人许多钱。
• The taxpayer are unfavourably disposed towards the recent tax increase.纳税者对最近的增加税收十分反感。

8 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

9 transparently   

明亮地，显然地，易觉察地

参考例句：

• "Clearly plots,'said Jacques Three. "Transparently!" “显然是搞阴谋，”雅克三号说，“再清楚不过了。” 来自英汉文学 - 双城记
• All design transparently, convenient for the file identification inside the bag. 全透明设计，方便袋内文件识别。

10 crumbled   

（把…）弄碎， （使）碎成细屑( crumble的过去式和过去分词 )； 衰落； 坍塌； 损坏

参考例句：

• He crumbled the bread in his fingers. 他用手指把面包捻碎。
• Our hopes crumbled when the business went bankrupt. 商行破产了，我们的希望也破灭了。

11 expertise   

n.专门知识(或技能等)，专长

参考例句：

• We were amazed at his expertise on the ski slopes.他斜坡滑雪的技能使我们赞叹不已。
• You really have the technical expertise in a new breakthrough.让你真正在专业技术上有一个全新的突破。

12 democrat   

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。

13 incentive   

n.刺激；动力；鼓励；诱因；动机

参考例句：

• Money is still a major incentive in most occupations.在许多职业中，钱仍是主要的鼓励因素。
• He hasn't much incentive to work hard.他没有努力工作的动机。

14 scrutiny   

n.详细检查，仔细观察

参考例句：

• His work looks all right,but it will not bear scrutiny.他的工作似乎很好，但是经不起仔细检查。
• Few wives in their forties can weather such a scrutiny.很少年过四十的妻子经得起这么仔细的观察。

15 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》

16 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。

17 regain   

vt.重新获得，收复，恢复

参考例句：

• He is making a bid to regain his World No.1 ranking.他正为重登世界排名第一位而努力。
• The government is desperate to regain credibility with the public.政府急于重新获取公众的信任。

18 justifiably   

adv.无可非议地

参考例句：

• There General Walters would come aboard to greet me, justifiably beaming with pride at his arrangement. 在那儿沃尔特斯将军会登上飞机来接我，理所当然为他们的安排感到洋洋得意。 来自辞典例句
• The Chinese seemed justifiably proud of their economic achievements. 中国人似乎为他们的经济成就感到自豪，这是无可非议的。 来自互联网

19 Congressman   

n.（美）国会议员

参考例句：

• He related several anecdotes about his first years as a congressman.他讲述自己初任议员那几年的几则轶事。
• The congressman is meditating a reply to his critics.这位国会议员正在考虑给他的批评者一个答复。