2. 职称英语
  3. After the stock-market crash of October 1929 it took over three years for A

After the stock-market crash of October 1929 it took over three years for A

游客2024-05-31  28
问题      After the stock-market crash of October 1929 it took over three years for America’s government to launch a series of dramatic efforts to end the Depression, starting with Roosevelt’s declaration of a four-day bank holiday in March 1933. In-between, America saw the worst economic collapse in its history. Thousands of banks failed, a damaging deflation set in, output declined by a third and unemployment rose to 25%. The Depression brought enormous damage across the globe, but most of all on America’s economy. As a result, the boundaries between government and markets were redrawn.
     During the past month, little more than a year after the financial storm first struck in August 2007, America’s government made its most dramatic interventions in financial markets since the 1930s. At the time it was not even certain that the economy was in recession and unemployment stood at 6.1%. In two unstable weeks the Federal Reserve and the Treasury between them nationalized the country’s two mortgage giants, Fannie Mae and Freddie Mac; took over AIG, the world’s largest insurance company; in effect extended government deposit insurance to $ 3.4 trillion in money-market funds; temporarily banned short-selling in over 900 mostly financial stocks; and, most dramatic of all, sworn to take up to $700 billion of bad mortgage-related assets on to its books. The Fed and the Treasury were determined to prevent the kind of banking disaster that caused the Depression. Shellshocked lawmakers were picky, but Congress and the administration eventually agreed.
     The landscape of American finance has been radically changed. The independent investment bank -- a crucial Wall Street animal that relied on high leverage(杠杆作用) and wholesale funding -- is now all but disappear. Lehman Brothers has gone bust; Bear Steams and Merrill Lynch have been swallowed by commercial banks; and Goldman Sachs and Morgan Stanley ’have become commercial banks themselves. The "shadow banking system" is transforming at lightning speed. And in little more than three weeks America’s government, all told, expanded its gross liabilities(负债) by more than $1 trillion -- almost twice as much as the cost so far of the Iraq war.
     Beyond that, few things are certain. In late September the turmoil spread and intensified. Money markets seized up across the globe as banks refused to lend to each other. Five European banks failed and European governments fell over themselves to support their banking systems with rescues and guarantees. As this special report went to press, it was too soon to declare the crisis contained.  [br] The last sentence of the passage means that ______.
选项 A、written on short notice, the report can hardly cover the entire crisis
B、everything being unfixed and uncertain, this report can not include the entire crisis now
C、this is only a special report, with no aim to contain the entire crisis
D、this report may not be received by the press
答案 B
解析 语义理解题。由最后一段可知目前各地金融混乱在不停蔓延加剧，什么事情都不确定，因此作者才发出了As this special report went to press，it was too soon to declare the crisis contained这一感叹，可知其意思是，当前情势不定的情况下，到这篇报道被发表时，可能就不能包括那时的情况了，B 符合题意。
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