英语翻译＋英语口译 -  2008年10月2日经济报道－信用与信心危机

ECONOMICS REPORT - Credit and the Crisis of Confidence
Thu, 2 Oct 2008
UPDATE: On Friday, in a 263-171 vote, the U.S. House of Representatives joined the Senate in approving a measure aimed at rescuing U.S. financial markets. President Bush quickly signed the bill into law.
This is the VOA Special English Economics Report.
经济报道－信用与信心危机
2008年10月2日，星期四。
最新报道：周五，美国众议院以263比171票，与参议院一样，批准了一项措施，旨在挽救美国金融市场。布什总统很快将这一法案签署为法律。
这是VOA特别英语的经济报道。
Wednesday night, the United States Senate passed a rescue bill for the financial industry. A wide majority sent the bill for debate in the House of Representatives. The House rejected its own version on Monday.
周三晚，美国参议院通过了一项金融业的挽救法案。以压倒性多数通过，使该法案送至众议院商议。众议院在周一否决了自己的法案。
Like the earlier bill, the new one approves up to seven hundred billion dollars to buy troubled assets. The government would aim to resell them later, maybe even at a profit.
与其它此前法案一样，新法案批准使用高达7000亿美元，购买深陷危机的资产。美国政府旨在以后出售，甚至有盈利地出售。
But the Senate added so-called sweeteners for the House. These include tax breaks for businesses and individuals and a temporary increase in federal insurance for bank deposits.
但是，参议院为众议院增加了所谓的“诱饵”，包括公司和个人的免税以及银行存款临时新增联邦保险。
Yet general elections are in a month. Members of Congress know that many Americans hate the idea of what they call a "bailout for Wall Street." Public opinion takers find greater support, however, when the plan is described as a "rescue."
但是，大选在一个月之后举行。国会议院们知道，许多美国人不喜欢他们所谓的“挽救华尔街”的设想。但是，当计划称为“挽救”时，民意测试发现支持率上升。
Supporters say it is needed to rescue Main Street, meaning average Americans. Businesses large and small are finding it harder to get credit -- a bad sign for an already weak economy.
支持者说，需要挽救大众，即普通民众。大小公司现在都发现，信贷更难了：对于已经疲弱的经济而言，这是一个不良信号。
(Main Street对应于Wall Street)
One thing is clear: credit demands trust, and there is a lack of it in the financial system. This loss of confidence has led to a flight from risk. Yields on short-term Treasury debt recently fell to almost zero. Investors were willing to accept almost no interest because they were more interested in safety.
有一点是明确的：信用需要信任，并且在金融系统中，信任缺失。信心的缺失导致避险。最近，短期财政债的收率几乎下跌为零。投资人愿意接受几乎为零的利息，这是因为他们对安全更感兴趣。
Another recent sign of worry: the LIBOR, the widely used London Interbank Offered Rate. The LIBOR for overnight loans between banks rose above six percent. Banks are holding onto money in case they need it for a sudden increase in withdrawals.
近期另一个担心的迹象：LIBOR（广泛使用的伦敦同业拆借利率）。银行间隔夜贷款的LIBOR上升，超过6%。银行持有资金，以便应对取款急剧上升之需。
Another part of the problem is suspicion about the assets that other banks might use to secure a loan. Many financial companies invested in pieces of complex securities based on mortgages and other debt. Spreading the risk this way meant high returns with little danger. Or so they thought.
问题的另一面是对资产的怀疑：其它银行可能用于获得贷款。许多金融公司投资于抵押和其它债务类的各种复杂证券。以这种方式扩散风险，意味着低风险高收率。或者说，他们以前这么认为。
Then the housing market began to collapse in two thousand six, followed by these securities. No one knows how to value them now. The financial industry has had to report billions in losses because of accounting rules.
然后，房产市场在2006年开始崩溃，接着是这些证券。没有人知道如何定价。由于会计准则，金融业报告了以10亿计的损失。
One rule is called mark-to-market. Companies must mark the value of their assets as the price they would receive if they tried to sell them. But what if the market has collapsed? Some experts call for a suspension of this rule. In any case, experts say the problem of toxic assets must be solved before credit markets will unfreeze.
一条准则是调至市价。公司必须将其资产所记价格是要出售时可以收到的价格。但是如果市场崩溃，又如何呢？一些专家要求取消这一准则。专家说，在任何情况下，不良资产必须在信用市场解冻之前解决。
And that's the VOA Special English Economics Report, written by Mario Ritter.
这是由Mario Ritter编写的VOA特别英语的经济报道。