Loan Crisis Throws New Light on Investment Banks　(2/2) ( 本次听写约186词 )

Then, in 1929, the stock market crashed. Between 1930 and 1933 almost 10,000 banks failed.
接着，在1912年，股票市场暴跌。1930年到1933年之间几乎有10000家银行受挫。

Congress passed a banking act in 1933 known as the Glass-Steagall Act. It banned commercial banks from buying and selling securities.; They their job was to pay interest on savings and lend to borrowers.
国会在1933年通过了名为《格拉斯-斯蒂格尔法》的银行法。它禁止商业银行买卖有价证券；它们的工作是为储蓄者支付利息和借钱给贷款人。

This ban remained until 1999. That year the * add Gramm-Leach-Bliley Act permitted commercial banks to deal in securities and sell ensurance insurance. They can again own investment companies that underwrite securities.
这项禁令一直持续到1999年。那一年《格雷姆-里奇-比利雷法》允许商业银行进行证券交易和销售保险。它们再次拥有了可上市股票的投资公司。

Many banks now regret that they got involved with high-risk mortgage securities. The collapse last month of the nation's fifth largest investment bank, Bellstones Bear Stearns, showed the risks. The International * Monetary Fund says total losses related to American's subprime mortgages could reach almost one trillion dollars.
许多银行现在后悔它们卷进了高风险的抵押证券。上个月国家第五大投资银行贝尔斯通的倒闭提示了风险。国际货币基金表示和美国次级债有关的损失达到了近一兆美元。

On March 17th, the Federal Reserve started offering loans to investment banks, as it does for other banks. The program will continue for at least six month. The Centeral central Bbank used a power described in section thirteen of the Federal Reserve aAct. But this power has not been used since the law was updated in 1932.
3月17日，联邦储备开始为投资银行提供贷款，就像它为其它银行做的那样。这项计划会持续至少六个月。中央银行使用了联邦储备法第十三条的力量。但是这项条款自法律在1932年更改以来没有使用过。