
请求各位帮我翻译一篇短文!英译中的!万分感谢!
Beginningin1978,whentheCarterAdministrationabolishedgovernmentrestrictionsonairlinero...
Beginning in 1978,when the Carter Administration abolished government restrictions on airline routes and fares ,both parties began to espouse the doctrine of unfettered free markets. In some industries-airlines and telecommunications,for example-deregulation delivered lower prices and more choices,with few downsides .Then the Reagan Administration relaxed parts of the Glass-Steagall Act,a Depression-era law that restricted the activities of big financial firms. This faciliated innovation and grownth but also made the system more fragile .A few years later,the Clinton Administration-after heavy lobbing by Wall Street,and vigorous encouragement from Alan Greenspan ,then the Fed chairman-removed the last vestiges of Glass-Steagall. (Phil Gramm,the former Texas senator-and a McCain adviser ,until he recently referred to Americans as "a nation of whiners "-co-sponsored the key piece of legislation.)
Commercial banks,such as Chase Manhattan,merged with investment banks,such as J.PMorgan.The remaining Wall Street firms,grappling with new competition in their traditional businesses,increased their borrowing and made riskier bets .Laster year,Bear Steams,Lehman Brothers and Merrill Lynch had more than thirty dollars of investments on their books for every dollar of capital .Having borrowed so heavily ,the firms were hostage to a withdrawal of credit on the part of their lenders.After the sub-prime-mortgage market collapsed ,that was precisely what they faced.
As Obama noted last week,it is no accident that the country is confronting its wost financial crisis since the Depression.Gullibility and greed caused this latest calamity ,but what allowed those basic human traits to combine to such catastrophic effect was a legal and institutional framework that resulted from deliberate policy actions.Something new,form a new Administration,is needed,A new deal,you might say.
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Commercial banks,such as Chase Manhattan,merged with investment banks,such as J.PMorgan.The remaining Wall Street firms,grappling with new competition in their traditional businesses,increased their borrowing and made riskier bets .Laster year,Bear Steams,Lehman Brothers and Merrill Lynch had more than thirty dollars of investments on their books for every dollar of capital .Having borrowed so heavily ,the firms were hostage to a withdrawal of credit on the part of their lenders.After the sub-prime-mortgage market collapsed ,that was precisely what they faced.
As Obama noted last week,it is no accident that the country is confronting its wost financial crisis since the Depression.Gullibility and greed caused this latest calamity ,but what allowed those basic human traits to combine to such catastrophic effect was a legal and institutional framework that resulted from deliberate policy actions.Something new,form a new Administration,is needed,A new deal,you might say.
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1978年初,当卡特政府取消对飞机航线与票价的约束,两个政党都开始采纳自由市场主义学说。在有些行业,例如航空和电信,市场干预缩小意味着低价格,选择多样和高质量(产品)。(于是)之后里根政府改革了《1933年银行法》(也作《格拉斯-斯蒂格尔法案》,是一项于萧条期颁发,有效限制大型金融机构活动的法案),放松了部分制约条款。此项改革有利于发展创新,但同时也使(美国金融)系统更加脆弱。几年后,在华尔街的大幅发展与艾伦.格林斯潘的大力提倡下,克林顿政府干脆立法将《1933年银行法》修订版所剩无几的制约一并作废。(德克萨斯州上议院议员菲尔.格拉姆 - 直到最近他称美国人是“一群(只会)哎哎抱怨的人”之前,他一直是麦凯恩的幕僚 – 也是此项法案的发起人之一)
大型商业银行如曼哈顿银行等纷纷与各大投资银行(如摩根大通)兼并,华尔街剩下的公司开始传统核心业务的竞争,挣扎求存。于是他们增加贷款,打起了高风险的赌。去年,贝尔斯登,雷曼兄弟和美林证券每一元股本账面上都担着高达30元的投资(长期贷款或融资),杠杆过高。在超贷的情况下,这些企业都随时有债权信用一旦下降,债权人撤资的潜在危险。于是次贷危机后,这些潜在危险一点不少地成真了。
就像奥巴马上周提到的,美国现在所面对的三十年代经济大萧条以来最严重经济危机并非偶然。诚然(企业领导者的)轻信与贪婪导致了此灾难,但是也归咎于有意改革下形成的法律与机构系统,以致最基本的人性(轻信贪婪)都能合在一起掀起滔天巨浪,造成灾难性后果。 新政府新气象,你或许会说,可能又会有一笔新的交易吧。
最后一句逗号多过头了…愣是没看明白…我就按照自己理解的翻了, something new from a new Administration is needed. A new deal, you might say. (暗喻格林斯潘和克林顿政府把美国的金融市场监管当交易,卖给了华尔街。)也不知道对不对。
大型商业银行如曼哈顿银行等纷纷与各大投资银行(如摩根大通)兼并,华尔街剩下的公司开始传统核心业务的竞争,挣扎求存。于是他们增加贷款,打起了高风险的赌。去年,贝尔斯登,雷曼兄弟和美林证券每一元股本账面上都担着高达30元的投资(长期贷款或融资),杠杆过高。在超贷的情况下,这些企业都随时有债权信用一旦下降,债权人撤资的潜在危险。于是次贷危机后,这些潜在危险一点不少地成真了。
就像奥巴马上周提到的,美国现在所面对的三十年代经济大萧条以来最严重经济危机并非偶然。诚然(企业领导者的)轻信与贪婪导致了此灾难,但是也归咎于有意改革下形成的法律与机构系统,以致最基本的人性(轻信贪婪)都能合在一起掀起滔天巨浪,造成灾难性后果。 新政府新气象,你或许会说,可能又会有一笔新的交易吧。
最后一句逗号多过头了…愣是没看明白…我就按照自己理解的翻了, something new from a new Administration is needed. A new deal, you might say. (暗喻格林斯潘和克林顿政府把美国的金融市场监管当交易,卖给了华尔街。)也不知道对不对。
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从1978年开始,当卡特政府废止了政府在航空路线和费用的约束,两个政党都开始支持无拘束的自由市场学说。在一些工业-定期航线和长途通讯,比如-反常的含运费的低价格和更多的选择权,有着很少的下降趋势。然后里根政府在Glass-Steagall Act放松的部分,一种大萧条时期的法律限制大的金融公司的行动。这点促进了创新和成长,但是也令系统变得更加脆弱。几年以后,克林顿政府-在华尔街沉重的步伐之后,艾伦格林斯潘给予的有力的奖励,然后Fed会长-远离了Glass-Steagall最后的痕迹。
(菲尔 格兰,以前德克萨斯州的参议员-是麦凯恩的顾问,直到最近他提到美国人像“只会哎哎叫的国民”-联合发起人立法的主要部分。(-co-sponsored这里不确定用法))商业银行们,像大通银行,与投资银行合并,像摩根大通。剩下的华尔街公司在它们的传统商业里抓住新的竞争,增加它们的借款和危险投资。去年,贝尔思弟恩斯,雷曼兄弟和美林证券公司在它们的记载上有为资产的每一美元超过三十美元的投资。
在如此沉重的贷款之后,这些公司是贷方部分取消信用的的抵押品。在次级房贷市场崩塌之后,那就恰好是它们面对的。但是,是什么允许了那些基本的人类特性联合到了如此灾难性的结果是法律的和制度上的构架,这是由预有准备的政策行为所产生的。在奥巴马上周注解,从经济萧条开始,国家所面对它们糟透了的金融危机并不是一个意外。轻信和贪欲造成这次最新的灾难。 需要一些新的东西,一个新的执政党所带来的,你可能会说是,新政。
(菲尔 格兰,以前德克萨斯州的参议员-是麦凯恩的顾问,直到最近他提到美国人像“只会哎哎叫的国民”-联合发起人立法的主要部分。(-co-sponsored这里不确定用法))商业银行们,像大通银行,与投资银行合并,像摩根大通。剩下的华尔街公司在它们的传统商业里抓住新的竞争,增加它们的借款和危险投资。去年,贝尔思弟恩斯,雷曼兄弟和美林证券公司在它们的记载上有为资产的每一美元超过三十美元的投资。
在如此沉重的贷款之后,这些公司是贷方部分取消信用的的抵押品。在次级房贷市场崩塌之后,那就恰好是它们面对的。但是,是什么允许了那些基本的人类特性联合到了如此灾难性的结果是法律的和制度上的构架,这是由预有准备的政策行为所产生的。在奥巴马上周注解,从经济萧条开始,国家所面对它们糟透了的金融危机并不是一个意外。轻信和贪欲造成这次最新的灾难。 需要一些新的东西,一个新的执政党所带来的,你可能会说是,新政。
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请求各位帮我翻译一篇短文!英译中的!万分感谢!
悬赏分:150 - 离问题结束还有 17 天 20 小时
Beginning in 1978,when the Carter Administration abolished government restrictions on airline routes and fares ,both parties began to espouse the doctrine of unfettered free markets. In some industries-airlines and telecommunications,for example-deregulation delivered lower prices and more choices,with few downsides .Then the Reagan Administration relaxed parts of the Glass-Steagall Act,a Depression-era law that restricted the activities of big financial firms. This faciliated innovation and grownth but also made the system more fragile .A few years later,the Clinton Administration-after heavy lobbing by Wall Street,and vigorous encouragement from Alan Greenspan ,then the Fed chairman-removed the last vestiges of Glass-Steagall. (Phil Gramm,the former Texas senator-and a McCain adviser ,until he recently referred to Americans as "a nation of whiners "-co-sponsored the key piece of legislation.)
Commercial banks,such as Chase Manhattan,merged with investment banks,such as J.PMorgan.The remaining Wall Street firms,grappling with new competition in their traditional businesses,increased their borrowing and made riskier bets .Laster year,Bear Steams,Lehman Brothers and Merrill Lynch had more than thirty dollars of investments on their books for every dollar of capital .Having borrowed so heavily ,the firms were hostage to a withdrawal of credit on the part of their lenders.After the sub-prime-mortgage market collapsed ,that was precisely what they faced.
As Obama noted last week,it is no accident that the country is confronting its wost financial crisis since the Depression.Gullibility and greed caused this latest calamity ,but what allowed those basic human traits to combine to such catastrophic effect was a legal and institutional framework that resulted from deliberate policy actions.Something new,form a new Administration,is needed,A new deal,you might say.
悬赏分:150 - 离问题结束还有 17 天 20 小时
Beginning in 1978,when the Carter Administration abolished government restrictions on airline routes and fares ,both parties began to espouse the doctrine of unfettered free markets. In some industries-airlines and telecommunications,for example-deregulation delivered lower prices and more choices,with few downsides .Then the Reagan Administration relaxed parts of the Glass-Steagall Act,a Depression-era law that restricted the activities of big financial firms. This faciliated innovation and grownth but also made the system more fragile .A few years later,the Clinton Administration-after heavy lobbing by Wall Street,and vigorous encouragement from Alan Greenspan ,then the Fed chairman-removed the last vestiges of Glass-Steagall. (Phil Gramm,the former Texas senator-and a McCain adviser ,until he recently referred to Americans as "a nation of whiners "-co-sponsored the key piece of legislation.)
Commercial banks,such as Chase Manhattan,merged with investment banks,such as J.PMorgan.The remaining Wall Street firms,grappling with new competition in their traditional businesses,increased their borrowing and made riskier bets .Laster year,Bear Steams,Lehman Brothers and Merrill Lynch had more than thirty dollars of investments on their books for every dollar of capital .Having borrowed so heavily ,the firms were hostage to a withdrawal of credit on the part of their lenders.After the sub-prime-mortgage market collapsed ,that was precisely what they faced.
As Obama noted last week,it is no accident that the country is confronting its wost financial crisis since the Depression.Gullibility and greed caused this latest calamity ,but what allowed those basic human traits to combine to such catastrophic effect was a legal and institutional framework that resulted from deliberate policy actions.Something new,form a new Administration,is needed,A new deal,you might say.
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在1978年开始,当卡特Administration取消政府对航线路线和车费的限制的时候,双方开始拥护不受限制的自由市场市场的教义.在一些industries-airlines和电讯中,为example-deregulation送交更低价格和更多选择,用很少一点底侧.Then雷根政府放松部分Glass-Steagall法案,一忧郁-时代法律那限制大财政公司的活动.这faciliated革新和grownth但是也用艾伦Greenspan,然后喂chairman-removed加工制成系统更易碎.A很少一点years较后,克林顿Administration-after重挑高球在附近华尔街和充满活力鼓励Glass-Steagall的最后遗迹.(PhilGramm,更以前得克萨斯senator-and aMcCain顾问直到他发哀叫声者"-co-sponsored的某样的人"一国家近来请参阅美国重要片legislation.)商业银行例如大通银行合并用投资银行例如J.PMorgan.The停留华尔街公司扭打用新竞争在朝派他们的传统businesses增加他们的借用和制做更有风险打赌.Laster年承受得了蒸汽莱曼兄弟和美林有超过三十美元的投资右手击球员的左后方场地他们的书为每一个美元的资本.Having借如此沉重公司是是人质向a撤消的信誉右手击球员的左后方场地分开的他们的lenders.After预支全盛期抵押市场崩溃那was准确是什么,他们朝同样地Obama指出上个星期它存在不事故那国家存在面对它wost金融危机自那以来Depression.Gullibility和贪婪造成这个迟灾难但是什么允许那些基本原理人品质向联合起来向这样灾难的影响was a法律上和具有公共机构特征的框架那随之发生从仔细考虑政策actions.Something新形式a新行政当局存在需要A新的政策你有能力发言权.
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在1978年开始的,当时卡特政府废除限制政府对航空路线和车费,双方开始信奉的理论,不受约束的自由市场。在一些行业,航空和电信,例如,放宽交付较低的价格和更多的选择,很少有缺点。然后,里根政府放松部分格拉斯一斯蒂格尔法,萧条时期法律,限制了活动的大型金融公司。这促进创新和grownth ,而且使该系统更加脆弱。几年后,克林顿政府,在沉重的高球华尔街,并积极鼓励格林斯潘,那么美联储主席,取消了最后残余的格拉斯一斯蒂格尔。 (葛拉姆,前得克萨斯州参议员麦凯恩和顾问,直到他提到最近美国人为“一个民族的whiners ”共同主办了关键的法例。 )
商业银行,如大通曼哈顿银行,合并的投资银行,如J.PMorgan.The其余的华尔街公司,应付新的竞争在其传统业务,增加了它们的借款成本,并取得风险投资。拉斯特年,熊Steams ,雷曼兄弟和美林已超过三十美元的投资对他们的书籍,每1美元的资本。借来了如此严重的企业人质撤回信贷的一部分,其出借方.以分黄金抵押贷款市场的崩溃,这正是他们所面对的。
正如奥巴马上周指出,这并非偶然的是,该国正面临其wost金融危机以来的经济不景气易受骗和贪婪造成这一最新的灾难,但允许这些人的基本特征结合起来,以这种灾难性的后果是一个法律和体制框架造成蓄意政策行为.冒事新的,形成一个新的行政,是必要的,一个新的协议,你或许会这样说。
商业银行,如大通曼哈顿银行,合并的投资银行,如J.PMorgan.The其余的华尔街公司,应付新的竞争在其传统业务,增加了它们的借款成本,并取得风险投资。拉斯特年,熊Steams ,雷曼兄弟和美林已超过三十美元的投资对他们的书籍,每1美元的资本。借来了如此严重的企业人质撤回信贷的一部分,其出借方.以分黄金抵押贷款市场的崩溃,这正是他们所面对的。
正如奥巴马上周指出,这并非偶然的是,该国正面临其wost金融危机以来的经济不景气易受骗和贪婪造成这一最新的灾难,但允许这些人的基本特征结合起来,以这种灾难性的后果是一个法律和体制框架造成蓄意政策行为.冒事新的,形成一个新的行政,是必要的,一个新的协议,你或许会这样说。
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