【美国总统电台演说】2008-09-20

THE PRESIDENT: Good morning. This is a pivotal moment for America's economy. Problems that originated in the credit markets and first showed up in the area of subprime mortgages have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers and to businesses seeking to expand and create jobs.

As a result, the government is acting¹ to protect our Nation's economic health from serious risk. Our free enterprise system rests on the conviction that the Federal government should intervene in the marketplace only when necessary. Given the precarious² state of our financial markets and their vital importance to the daily lives of the American people, government intervention³ is not only warranted, it is essential.

In recent weeks the Federal government has taken a series of targeted measures designed primarily to stop the problems of individual firms from spreading more broadly. But more action is needed. We must address the root cause behind much of the instability in our markets. America's economy is facing unprecedented⁴ challenges, and we're responding with unprecedented action.
My Administration is working with Congress on legislation which will approve the Federal government's purchase of illiquid assets, such as troubled mortgages, from banks and other financial institutions. This decisive step will address underlying⁵ problems in our financial system. And it will allow financial institutions to resume lending and get our financial system moving again.

The Department of the Treasury⁶ is also acting to restore confidence in a key element of America's financial system, by offering government insurance for money market mutual⁷ funds. For every dollar you have invested in an insured fund, you'll be able to take a dollar out.

The Federal Reserve is also providing more liquidity⁸ to money market mutual funds, which will help ease pressure on our financial markets.

The Securities and Exchange Commission has issued new rules temporarily suspending the practice of short-selling on the stocks of financial institutions. This is intended to prevent investors⁹ from intentionally¹⁰ driving down particular stocks for their own personal gain.

Finally, when we get past the immediate¹¹ challenges, my Administration looks forward to working with Congress on measures to bring greater long-term transparency and reliability¹² to the financial system.

These measures require us to put a significant amount of taxpayer¹³ dollars on the line. But I'm convinced that this bold approach will cost American families far less than the alternative. Further stress on our financial markets would cause massive job losses, devastate¹⁴ retirement¹⁵ accounts, further erode¹⁶ housing values, and dry up new loans for homes, cars, and college tuitions.

In this difficult time, I know many Americans listening may be wondering about the security of your finances. Through the FDIC, every savings¹⁷ account, checking account, and certificate of deposit is insured by the Federal government for up to $100,000. The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit. And this will not change.

In the long term, Americans can have reason to be confident in our economic strength. America has the most talented, productive, and entrepreneurial workers in the world. This country is the best place in the world to invest and do business. And as we've seen repeatedly over the past eight years, we have a flexible and resilient system that absorbs challenges, makes corrections, and bounces back.

We will weather this challenge too -- and we will do it together. This is not a time for partisanship¹⁸. I'll work with Democrats¹⁹ and Republicans alike to steer²⁰ our economy through these difficult times and back to the path of long-term growth. Thank you for listening.

END

1 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• Ignore her,she's just acting.别理她，她只是假装的。
• During the seventies,her acting career was in eclipse.在七十年代，她的表演生涯黯然失色。

2 precarious   

adj.不安定的，靠不住的；根据不足的

参考例句：

• Our financial situation had become precarious.我们的财务状况已变得不稳定了。
• He earned a precarious living as an artist.作为一个艺术家，他过得是朝不保夕的生活。

3 intervention   

n.介入，干涉，干预

参考例句：

• The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
• Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。

4 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。

5 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。

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 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

8 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

9 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

10 intentionally   

ad.故意地，有意地

参考例句：

• I didn't say it intentionally. 我是无心说的。
• The local authority ruled that he had made himself intentionally homeless and was therefore not entitled to be rehoused. 当地政府裁定他是有意居无定所，因此没有资格再获得提供住房。

11 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

12 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。

13 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。

14 devastate   

v.使荒芜，破坏，压倒

参考例句：

• A few days before,a fire had devastated large parts of Windsor Castle.几天前，温莎城堡的大部分被一场大火烧毁。
• Earthquakes can also cause tsunamis,which devastate coastal regions.地震还引发海啸，它直接破坏海岸地区。

15 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

16 erode   

v.侵蚀，腐蚀，使...减少、减弱或消失

参考例句：

• Once exposed,soil is quickly eroded by wind and rain.一旦暴露在外，土壤很快就会被风雨侵蚀。
• Competition in the financial marketplace has eroded profits.金融市场的竞争降低了利润。

17 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

18 Partisanship   

n. 党派性, 党派偏见

参考例句：

• Her violent partisanship was fighting Soames's battle. 她的激烈偏袒等于替索米斯卖气力。
• There was a link of understanding between them, more important than affection or partisanship. ' 比起人间的感情，比起相同的政见，这一点都来得格外重要。 来自英汉文学

19 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》

20 steer   

vt.驾驶，为…操舵；引导；vi.驾驶

参考例句：

• If you push the car, I'll steer it.如果你来推车，我就来驾车。
• It's no use trying to steer the boy into a course of action that suits you.想说服这孩子按你的方式行事是徒劳的。