时差N小时 美国证券交易委员会

The stock market crash of 1929 devastated¹ the American economy and produced the Great Depression. Between September 1929 and July 1932, stocks lost 83% of their value, prompting the Senate Banking² and Currency Committee to conduct a series of hearings on the causes of the crash. These hearings revealed deep problems with how stocks were being sold to investors⁴.

1929年的股市大崩盘摧毁了美国经济，导致美国进入大萧条时期。1929年9月至1932年7月间，股市市值缩水83%，迫使参议院银行和货币委员会进行了一系列的听证会，以查明股市大崩盘的原因。听证会深层次揭露了在售向投资者销售股票时存在的问题。

At that time, it was basically the responsibility of the investor³ to determine whether a company was telling the truth about its stock before investing. Many stocks were sold that were not worth their price, and millions of people lost their fortunes in the crash. To bring order out of the chaos⁵, Congress passed three major acts creating the Securities and Exchange Commission in 1934 and defining its responsibilities.

那时，在投资前判断企业提供的信息是否属实，责任基本在投资者。许多股票在出售时并不值当时的价钱，上百万人在这次灾难中失去了财富。为了在混乱中维持秩序，国会通过了三条主要的法案。1934年国会成立了证券交易委员会，并定义了它的职责。

The SEC works to monitor the stock market industry and to protect investors. Since its creation, companies that offer their stock for sale to the public are required by federal law to tell the truth about their businesses. Without an oversight⁶ body like the SEC giving investors some basic confidence in the system, today's stock market simply couldn't exist. Corporate⁷ irregularities are not always caught as quickly as they should be, but the overall structures designed by Congress have helped to make America's stock markets among the safest in the world.

证券交易委员会的职责是监控股票交易机构，保护投资者的权利。自从它成立以来，上市公司需按照联邦法律的要求，向公众出售股票时诚实交代自己的业务。要是没有像证券交易委员会这样的监督机构，也许今天根本不会有股市存在。虽然并不总是能及时查获企业违规现象，但国会制定的总体监管结构已将美国股市变成世界上最安全的股市之一。

1 devastated   

v.彻底破坏( devastate的过去式和过去分词)；摧毁；毁灭；在感情上（精神上、财务上等）压垮adj.毁坏的；极为震惊的

参考例句：

• The bomb devastated much of the old part of the city. 这颗炸弹炸毁了旧城的一大片地方。
• His family is absolutely devastated. 他的一家感到极为震惊。

2 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。

3 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

4 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

5 chaos   

n.混乱，无秩序

参考例句：

• After the failure of electricity supply the city was in chaos.停电后，城市一片混乱。
• The typhoon left chaos behind it.台风后一片混乱。

6 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。

7 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。