US Treasury Secretary Defends Bailout, Calls for Reform
保尔森呼吁改革全球金融体制

　
U.S. Treasury Secretary Henry Paulson has defended his handling of the $700 billion financial bailout package. Paulson spoke Thursday at the Ronald Reagan Presidential Library in Simi Valley, California, he called for cautious reforms in the U.S. and global financial systems.

美国财政部长保尔森为他处理7千亿美元救市计划的方式进行辩护。保尔森星期四在加州锡米谷里根总统图书馆发表讲话时呼吁对美国和全球金融体制进行谨慎的改革。

Paulson said the current financial crisis had many causes, including government inaction and mistaken actions, outdated U.S. and global regulatory systems, and too much risk-taking by financial institutions. He says his first priority has been to stabilize the system. He says the next will be to reform it.

保尔森指出，目前的金融危机是许多因素造成的，其中包括政府的不作为和错误行为，美国和全球的监管制度过时，以及金融机构风险投资太多。保尔森说，他的优先重点一直是稳定金融体系，接下去将是改造这个体系。

"This debate offers great opportunities and great peril. The events of the last year have exposed excesses and flaws that are, to put it mildly, humbling. If we do not correctly diagnose the causes and instead act in haste and implement more rather than better regulations, we can do long-term harm," he said.

保尔森说：“这次辩论带来了巨大的机会和巨大的风险。过去一年发生的事情暴露出的无度和缺陷，客气点说，让人羞愧。如果我们不正确地诊断出原因，反而仓促行事，进行更多而不是更好的监管，我们就会造成长期的伤害。”

Paulson says recovery will take time, and a new regulatory framework cannot be developed while the financial situation is unfolding.

保尔森指出，复苏需要时间，在金融局势尚不明朗的时候，不能规划出新的监管机制。

The treasury secretary faced sharp criticism over his handling of the bailout when he appeared Tuesday before the House of Representative Financial Services Committee. The $700 billion escue plan initially focused on buying bad debt from banks that were left with nearly worthless securities after the housing market collapsed. Paulson said a worsening situation called for a change of strategy, and he started making cash infusions into financial companies, with the government taking an equity share, in order to get the institutions lending again.

7千亿美元的救市计划最初的重点是收购银行那些在房市崩溃之后变得几乎一文不值的不良资产和坏帐。保尔森说，由于情况不断恶化，需要改变策略。他开始向金融机构注资，让政府掌控部分股份，以便使金融机构能够继续发放贷款。

He says international bodies such as the World Bank, International Monetary Fund, and regional development banks should reform their governing boards to make them more accountable, streamlined and effective.

保尔森认为，世界银行、国际货币基金组织以及地区发展银行等国际机构应当改革自己的管理层，使之更负责，更精练，更有效。

"Similarly, the IMF and the World Bank need to accord dynamic emerging market economies greater representation and participation in their daily operations," he said.

保尔森说：“同样，国际货币基金组织和世界银行在日常运作中应当让富有活力的新兴市场经济更多参与，享有更多的发言权。”

Paulson urged cooperation among Democrats and Republicans in Congress and among world leaders, as they work through the crisis. He says future reforms must be consistent with free trade and open investment.

保尔森敦促国会民主党人和共和党人以及世界各国领导人在处理危机的过程中进行合作。他说，未来的改革必须符合自由贸易和开放投资的原则。