英语翻译＋英语口译 -  2008年7月31日经济报道－美国房产救援计划及其内容

ECONOMICS REPORT - The US Housing Rescue Plan: What It Includes
Thu, 31July 2008
This is the VOA Special English Economics Report.
经济报道－美国房产救援计划及其内容
2008年7月31日
这是VOA特别英语的经济报道。
Last week, the United States Congress approved a major housing bill. President George Bush signed it into law on Wednesday.
上周，美国国会批准了一项重大房产法案。乔治.布什总统在周三签字立法。
The plan could help an estimated four hundred thousand homeowners late in their payments and in danger of losing their homes.
这一救援计划能帮助大约40万房主的未来还款，而这些房主面临失去房子的风险。
The government will guarantee up to three hundred billion dollars in lower-cost refinancing of loans. In return, lenders must agree to forgive part of the original loan.
美国政府将保证高达3000美元 (债务)的低成本再融资。作为回报，放款人必须同意减免部分原始债款。
But experts say as many as three million owners are in trouble. With falling prices, many people owe more than their homes are worth.
但是，专家指出，多达300万房主处于困境。随着房产价格的下跌，许多人的欠款高于房子价值。
The new law also includes help for the mortgage finance companies Fannie Mae and Freddie Mac. They guarantee or own almost half of the nation's twelve trillion dollars in housing debt.
新法律也包括对抵押金融公司(房利美和房地美)的援助。这二家公司几乎担保或拥有美国12万亿美元房产债务的一半。
They buy high quality loans but have also invested in risky mortgages. In recent months they have reported eleven billion dollars in losses, and their stock prices have collapsed.
他们购买优质债务，但也投资于有风险的抵押。近几个月，他们亏损了110亿美元，并且他们的股票价格暴跌。
Congress created the Federal National Mortgage Association, or Fannie Mae, in nineteen thirty-eight. In sixty-eight it became a shareholder-owned company financed with private capital. Then Congress created a competitor: the Federal Home Loan Mortgage Association, or Freddie Mac.
国会在1938年设立了联邦国民抵押贷款公司(房利美)。在68年，由私人资本融资而成为股东拥有的公司。然后，国会又设立了其竞争对手，即联邦住房抵押贷款公司(房地美)。
Fannie Mae and the smaller Freddie Mac buy loans from banks and other lenders, then sell them as securities to investors worldwide. This secondary market provides money for lenders to make new loans.
房利美和规模小些的房地美从银行和其它放款人购买债务，然后以证券的形式出售给全球的投资人。这一次级市场为放款人提供发放新贷款的资金。
Now, few investors are interested in mortgage-backed securities without government guarantees.
目前，没有多少投资人愿意投资于没有政府担保的抵押型证券。
Investors always believed that if Fannie and Freddie needed help, the government would intervene. Now, it has. The new law lets the Treasury, until the end of next year, offer them unlimited credit and even buy their stock.
投资人此前相信，如果房利美和房地美需要帮助，美国政府会干预。现在，确实干预了。新法律允许美国财政部在明年底之前，向房利美和房地美提供无限额信用，甚至购买他们的股票。
Some critics say Fannie and Freddie should be replaced by truly private companies. Their government connection has lowered their borrowing costs. But many economists say homeowners get little of that savings. And critics have deplored their spending on political campaigns, lobbying activities, and pay for their executives.
一些批评人士说，房利美和房地美应被真正私有化的公司取代。他们的政府关系降低了他们的借款成本。但是，许多经常学家说，房主获得的好处微不足道。并且，批评人士指责他们在政治竞选、游说方面的开支及其高管薪水。
The plan does create new supervision over both companies.
这一计划确实设立了对二家公司的新监管机制。
The Congressional Budget Office says the rescue plan could cost taxpayers twenty-five billion dollars. But it also says there is probably better than a fifty percent chance that no money will be needed.
美国国会预算办公室说，救援计划需要纳税人开支250亿美元。但是，它还说，大于50%以上的可能性是不需要任何开支。
And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember
这是由Mario Ritter编写的VOA特别英语的经济报道。我是Steve Ember。