The government has put out a plan that could result in the most sweepingoverhaul of this country’s financial regulatory system since the Great Depression. With today’s economy teetering, the plan would create new rules controlling everything from your bank and mortgage company down to small insurance firms. And our business correspondent, Betsy Stark, is here.
And when you start saying reform to the financial regulatory system, I think people’s eyes just glaze over. But what is the thrust of this plan and what would it do? Well Charlie, the current system is a patchwork of state and federal agencies that oversee everything from bank deposits to insurance to stocks.
And what this plan envisions is taking all of those agencies and combining them into three kind of “uber- agencies,” one that would oversee financial markets, one that would oversee the banking system, and one that would…uh, that would provide consumer protections by overseeing uh…the…the conduct of…of business. Some think it would be more efficient, ultimately, and some think it would just be more confusing.
But people wonder, ‘What can it do for me right now? Would this in any way help the housing crisis now? Would it, if it had been in effect, maybe, (have) prevented the housing problems?’ Well, there is an idea in this plan to create a commission that would regulate mortgage lending. Nearly half of the subprime mortgages that Americans now hold were made by mortgage brokers who are completely unlicensed.
This would change that, pose some standards on the industry - probably not going to help people who are in trouble now, but could possibly, in the future, prevent a future mortgage mess. Exactly. It changes things in the future, but not now. Not now. And it’s still a proposal, a long way from being enacted.
That’s right. I mean, this mortgage commission is doable but the rest of it in the middle…in the final months of a lame-duck administration, with a housing crisis and a sick economy to manage, even the Treasury Secretary said today this is probably going to take years and this blueprint is uh…the jumping-off point for a lengthy debate. All right. Betsy Stark, reporting tonight. Thanks.
put out : 1. 불을 끄다(=extinguish) 2. 발표하다 3. to put something in a place where someone will see it, so that they can use it or have it ex. The police has put out a warning about an escaped prisoner. / ex. The band put out a statement denying rumors of a split. ex. The clerk at the store put out new candies. / ex. I put out food for the birds in cold weather. result in ~ : (~ 의 결과로) 되다, ~의 결과를 낳다, 귀착하다 * result from ~ 에서 기인 [유래]하다 ex. His efforts will not result in failure. 그의 노력은 실패로 끝나지 않을 것이다. sweeping : 대대적인 overhaul : 분해 검사 [수리]하다, 철저히 개편하다, 총점검 정비, 분해 검사[수리], 정밀 검사, 철저한 개편 ex. to overhaul the welfare system ex. repeated calls for an overhaul of the health-care system regulatory : 조절[조정]하는, 규정하는, 단속하는 * regulate : 규제하다, 단속하다, <수량 정도 기계를> 조절 [조정]하다 * financial regulatory system : 금융규제시스템 the Great Depression : 세계 대공황 teeter : 흔들리다 / to stand or move in a way that is not steady and makes you seem about to fall ex. Stephanie went downstairs, teetering on her high heels. * teeter on the brink/edge (of something) : be in a situation in which something bad is very likely to happen ex. The organization is teetering on the brink of bankruptcy. mortgage : 저당, 주택 융자, 모기지, ~ 을 저당하다 ex. hold a mortgage on a person's house 의 집을 저당잡다 / ex. The estate is mortgaged. 그 대지는 저당이 되어 있다. * take out a mortgage 모기지융자 받다 glaze : 1. a thin layer of milk, sugar, or egg that you put on foods to make them look smooth and shiny 2. a clear shiny oil that you put on paintings or on objects made of clay, leather, or paper to protect them and make them look attractive 유약칠, 투명한 웃칠 3. to put a smooth and shiny surface on something * glaze over : <눈이> 흐릿해지다, 흐려지다 thrust : ~을 세게 밀다, 밀치다, <사물·책임 등을> (…에) 떠맡기다, 강요하다, (와락) 밀침, (연설 등의) 요점, 진의, 취지 ex. She thrust the work upon me. 그녀는 그 일을 내게 떠맡겼다. ex. We welcome the general thrust of the Senator's argument. patchwork : 조각천을 이어 맞춘 세공, (임시변통으로) 그러[주워]모은 것/ something that consists of many different and often confusing parts oversee : 감독[감시]하다 bank deposit : 은행 예금 envision : <장래의 일 등을> 마음에 그리다, 상상하다, 계획 하다 uber- : Uber combines with nouns and adjectives to form nouns and adjectives that refer to a great or extreme example of something. (JOURNALISM) ex. My new sneakers are uber-cool. ex. uber-model, Jane ex. uber-billionaire the conduct of business : 영업(활동) ex. interrupt the conduct of business : 영업을 방해하다 in any way : 어 떤 식으로든 in effect : 1. (법률이) 유효한, 실시 중인, 2. 사실상, 실제로는 ex. The law is in effect. * take effect 효력을 나타내다, 발효하다 regulate : 규제하다, 단속하다, <수량 정도 기계를> 조절 [조정] 하다 subprime : 최고 품질보다 못한, 최우대 금리보다 못한 impose :〔부담. 세금.형벌.의무 따위〕를 지우다 * impose taxes on(or upon) a person's property ~ 의 재산에 과세하다 . * impose a ban on ~ : ex. They agreed to impose an immediate ban on sales. * pose : 포즈를 취하 다, ~ 인 체하다, <사람.일이> (문제 따위)를 (남) 에게 일으키다. ex. police officers posing as customers 고객으로 가장한 경찰관들 / ex. pose as a detective 형사인 체 하다, 형사로 가장하다 * pose a problem/difficulty/risk/threat : ex. We are being told that the accident poses no threat to the environment. ex. pose a serious threat to the security of the state 국가의 안전을 몹시 위협하다. * pose a challenge: ex. They had been expected to pose a serious challenge to the main parties. mess : 1. 혼란, 뒤죽박죽, 엉망진창 2. 곤경, 분규, 궁지 (a difficult situation with a lot of problems, especially because people have made mistakes) ex. The garden was a real mess. ex. "What a mess!"she said, looking at the kitchen. * make a mess: Try not to make a mess because I've been cleaning. / ex. an economic mess * be in a mess: ex. The company was in a complete mess when she took over. be a long way from : ~ 부터 멀리 떨어져 있다, ~ 이 결코 아니다 enact : <법률을> 제정하다 * enactment : (법의) 제정 doable : 할[행할] 수 있는 lame duck : 재선 불출마 또는 낙선으로 퇴임을 눈 앞에 둔 선거직 관리[대통 령, 의원 등] (a. lame-duck) Treasury Secretary : 재무장관 blueprint : 청사진, (상세한) 계획, <~ 의> 청사진을 찍다, (면밀한) 계획을 세우다 jumping-off point /place : 1. a point from which to start a journey or activity 2 an idea, example, or piece of information that is used to begin a process or activity ex. Using his daughter's case as a jumping-off point, he described a justice system that ignores the rights of the victim.