VOA标准英语2008年-JP Morgan Chase Buys Troubled Washington Mutual
时间:2019-01-12 作者:英语课 分类:VOA标准英语2008年(九月)
As U.S. lawmakers grappled over a $700 billion dollar bank bailout plan, one of the nation's largest banks - Washington Mutual 1 Incorporated - collapsed 3 under the weight of its enormous bad bets on the U.S. mortgage market. From Washington, VOA's Purnell Murdock reports on what is seen as the largest bank failure in U.S. history.
Pedestrians 4 walk past Washington Mutual Inc. branch in downtown Seattle, Washington (file photo)
With financial markets reeling over the recent crisis on Wall Street, the collapse 2 of Seattle-based Washington Mutual could not have come at a worse time.
Federal regulators moved quickly, seizing the troubled mortgage lender late Thursday and selling the thrift's banking 5 assets to U.S. investment bank J.P. Morgan for nearly $2 billion.
The Federal Deposit Insurance Company, FDIC, insures Americans' bank deposits of up to $100,000. But it says because of the deal it will not have to use its assets to cover Washington Mutual's deposits.
The FDIC had already spent billions of dollars in its takeover of IndyMac, which collapsed in July. Some analysts 6 say a Washington Mutual failure could have used up half the money in the government insurance fund.
J.P. Morgan Chase said it plans to close less than 10 percent of the two companies' branches. The bank has not yet decided 7 which to close. Kelsey Wesley, a Washington Mutual employee says employees are nervous. But adds the company, commonly known as WaMu, has been good to them in the past.
"I'm not gonna say that is not gonna happen but no matter what WaMu has a really impressive severance 8 package and I think that's going to be carried on even if there is a merger," he said.
John Graybill, another Washington Mutual employee said he is optimistic.
"Of course we are going to have some uncertainties 9 and some questioning about what's going on. Have I been nervous? Sure. That's the nature of the whole beast," he said. "When a large company gets bought out you wonder about your job. Are heads gonna roll? You just don't know but we have faith in our bosses and the people upstairs."
FDIC Chairwoman Sheila Bair says this will be a seamless transition for the bank's customers. She says there will be no interruption in services and bankers can expect business as usual.
Washington Mutual has been saddled with billions of dollars of debt because it heavily invested in selling risky 10 subprime mortgages to customers who later defaulted on them.
This is J.P. Morgan's second purchase of a financial institution left vulnerable by the subprime mortgage crisis. It bought Bear Stearns for more than two-billion dollars earlier this year.
- We must pull together for mutual interest.我们必须为相互的利益而通力合作。
- Mutual interests tied us together.相互的利害关系把我们联系在一起。
- The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
- The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。
- Jack collapsed in agony on the floor. 杰克十分痛苦地瘫倒在地板上。
- The roof collapsed under the weight of snow. 房顶在雪的重压下突然坍塌下来。
- Several pedestrians had come to grief on the icy pavement. 几个行人在结冰的人行道上滑倒了。 来自《简明英汉词典》
- Pedestrians keep to the sidewalk [footpath]! 行人走便道。 来自《现代汉英综合大词典》
- 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。
- City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
- I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
- 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。
- Those laid off received their regular checks,plus vacation and severance pay.那些被裁的人都收到他们应得的薪金,再加上假期和解职的酬金。Kirchofer was terminated,effective immediately--without severance or warning.科奇弗被解雇了,立刻生效--而且没有辞退费或者警告。
- One of the uncertainties of military duty is that you never know when you might suddenly get posted away. 任军职不稳定的因素之一是你永远不知道什么时候会突然被派往它处。
- Uncertainties affecting peace and development are on the rise. 影响和平与发展的不确定因素在增加。 来自汉英非文学 - 十六大报告