【美国总统电台演说】2008-10-18

THE PRESIDENT: Good morning. Our Nation is dealing¹ with a serious financial crisis. Over the past month, Americans have witnessed fast-moving events involving complicated financial issues. I know many of you are concerned about your finances. So this morning, I want to tell you how we're addressing the uncertainty² in our economy.

The federal government has responded to this crisis with systematic³ and aggressive measures to protect the financial security of the American people. These actions will take more time to have their full impact. But they are big enough and bold enough to work.

The primary focus of our efforts is addressing the underlying⁴ problem behind the freeze in our credit markets. Earlier this month, Congress passed bipartisan legislation authorizing⁵ the Treasury⁶ Department to use up to $700 billion to help banks rebuild capital. This week, I announced that the Treasury will use a portion of that money to inject capital directly into banks by purchasing equity⁷ shares. This new capital will help banks continue making loans to businesses and consumers. In addition, the Treasury will use part of the $700 billion to purchase some of the troubled assets that are weighing down banks' balance sheets and clogging⁸ the financial system. This extraordinary effort is designed with one overriding⁹ purpose: to help banks get loans flowing to American consumers and businesses, so they can create jobs and grow our economy.

I know many Americans have reservations about the government's approach, especially about allowing the government to hold shares in private banks. As a strong believer in free markets, I would oppose such measures under ordinary circumstances. But these are no ordinary circumstances. Had the government not acted, the hole in our financial system would have grown larger, families and businesses would have had an even tougher time getting loans, and ultimately the government would have been forced to respond with even more drastic and costly¹⁰ measures later on. So I decided¹¹ that government had to move, but that government's involvement in individual banks had to have prudent¹² limits.
The government's involvement is limited in size. The government will only buy a small percentage of shares in banks that choose to participate, so that private investors¹³ retain majority ownership.

The government's involvement is limited in scope. The government will not exercise control over any private firm, and federal officials will not have a seat around your local bank's boardroom table. The shares owned by the government will have voting rights that can be used only to protect the taxpayer's investment -- not to direct the firm's operations.

The government's involvement is limited in duration. It includes provisions to encourage banks to buy their shares back from the government when the markets stabilize¹⁴ and they can raise money from private investors. This will ensure that banks have an incentive¹⁵ to find private capital to replace the taxpayer's investment -- and to do so quickly.

I know many of you are also concerned about the price tag of this rescue package. Ultimately, we believe the final cost will be significantly less than the initial investment. Many of the troubled assets that the government buys will increase in value as the market recovers. That means the government eventually will be able to resell them for a higher price. In addition, the government will receive quarterly dividends¹⁶ from the equity shares it purchases in financial institutions. If banks do not repurchase these shares within five years, the dividends they owe the government will increase substantially. This provides a clear incentive for banks to buy back their shares, thus returning the money to taxpayers¹⁷, as soon as possible.

In the long run, the American people can have confidence that our economy will bounce back. America is the best place in the world to start and run a business, the most attractive destination for investors around the globe, and home to the most talented, enterprising, and creative workers in the world. We're a country where all people have the freedom to realize their potential and chase their dreams. This promise has defined our Nation since its founding, this promise will guide us through the challenges we face today, and this promise will continue to define our Nation for generations to come.

Thank you for listening.

1 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

2 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

3 systematic   

adj.有系统的，有计划的，有方法的

参考例句：

• The way he works isn't very systematic.他的工作不是很有条理。
• The teacher made a systematic work of teaching.这个教师进行系统的教学工作。

4 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。

5 authorizing   

授权，批准，委托( authorize的现在分词 )

参考例句：

• Letters of Marque: Take letters from a warning friendly power authorizing privateering. 私掠许可证：从某一个国家获得合法抢劫的证书。
• Formal phavee completion does not include authorizing the subsequent phavee. 阶段的正式完成不包括核准随后的阶段。

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 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

8 clogging   

堵塞，闭合

参考例句：

• This process suffers mainly from clogging the membrane. 这种过程的主要问题是滤膜的堵塞。
• And you know that eyewitness that's been clogging up the airwaves? 你知道那个充斥着电视广播的目击证人？

9 overriding   

a.最主要的

参考例句：

• Development is of overriding importance. 发展是硬道理
• My overriding concern is to raise the standards of state education. 我最关心的是提高国民教育水平。

10 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

11 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

12 prudent   

adj.谨慎的，有远见的，精打细算的

参考例句：

• A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
• You must school yourself to be modest and prudent.你要学会谦虚谨慎。

13 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

14 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

15 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。

16 dividends   

红利( dividend的名词复数 )； 股息； 被除数； （足球彩票的）彩金

参考例句：

• Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
• Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。

17 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。