演讲稿

Something similar happened again in 1997 but by then the banks had learned to securitize their loans so they could not be forced into a collective system of lending and most of the losses had to be taken by the debtor countries. This set the pattern: the debtor countries were subjected to harsh market discipline but when the system was in danger, the normal rules were suspended. Banks, whose collective failure would have endangered the system, were bailed out.
1997年，类似的事情再次发生。但那时，银行已经学会了将贷款证券化，不至被迫采用集体出借的做法，而大部分损失不得不由债务国承担。于是形成了一种新的模式：债务国遵守严格的市场戒律，但如果体系遭遇困难，一般规则将暂停执行。这样，银行就得到挽救，尽管它们的集体失败也许已危及到了体系本身。
The financial crisis of 2007/2008 was different because it originated at the center and the periphery countries were drawn into it only after the bankruptcy of Lehman Brothers. The IMF was faced with a novel task: to protect the periphery from a storm that originated at the center. It did not have enough capital but, member countries banded together and raised a trillion dollars. Even so, the IMF has had some difficulties in coping with the situation because it was designed to deal with problems in the public sector and the shortage of credit was impacting mainly the private sector. But, on the whole, the IMF adapted itself to its novel task remarkably well.
2007年至2008年的金融危机则与此不同，因为它起源于中心国，而边缘国家则是在雷曼兄弟公司破产后才被卷入其中的。国际基金组织面临着一项新任务：保护边缘国免受由中心国引发的风暴的影响。虽然该组织没有足够的资金，但各成员国联合起来，筹了一万亿美元的款。即便如此，它在应对该局面时还有—定困难，因为它主要是为解决国营机构的问题而设，而这次信贷危机主要影响的是私营机构。 但从总体上讲，国际货币基金组织在处理这项新任务时表现得还是相当出色的。

重点讲解+名人简历

重点讲解：
1. be subjected to
可能受…影响的；易遭受…的；
eg. Gameela was sacked from her job and subjected to years of harassment as she campaigned for his release.
当加梅拉为丈夫的释放而奔波时，她被解雇了并受了多年的困扰。
eg. Clare did not deserve the vilification she had been subjected to.
克莱尔不该受到这样的诽谤。
2. bail out
（常指通过出资）帮助…脱离困境；
eg. They will discuss how to bail the economy out of its slump.
他们将讨论如何使经济走出低谷。
eg. He desperately needed cash to bail out the ailing restaurant.
他急需现金使经营惨淡的餐馆走出困境。
3. draw into
使参与；使卷入；
eg. Don't let him draw you into his strategy.
不要让他把你卷进他的行动计划。
eg. They were reluctant to be drawn into the conflict.
他们不愿卷入这场冲突。
4. be faced with
面临；面对；摆在…面前；
eg. They were faced with the daunting task of restoring the house.
他们面临着修复房子的艰巨任务。
eg. She was faced with a new job, in unfamiliar surroundings with strange people.
她面对着一份全新工作，周围是陌生的环境和陌生的人。
5. protect sb./sth. from sth./doing sth.
保护；防护；
eg. Such laws could protect the consumer from harmful or dangerous remedies.
这样的法规可以保护消费者免受有害或者危险药品的威胁。
eg. The most important trees were tagged to protect them from being damaged by construction machinery.
最珍贵的树木都被贴上了标签，以防被建筑机械毁坏。
6. cope with
（成功地）处理，应付，对付；
eg. Inexperienced she was, she could cope with the difficulties wonderfully well.
尽管她没有经验，但她能巧妙地克服这些困难。
eg. As an asthmatic, he cannot cope with the heat and humidity.
他患有哮喘病，经不起高温和潮湿。
7. on the whole
大体上说；总的说来；
eg. On the whole, people miss the opportunity to enjoy leisure.
总的来说，人们渴望享受闲暇的时光。
eg. The wine towns encountered are, on the whole, quiet and modest.
所到的酒镇总的来说都是宁静祥和的。

名人简介：
量子基金（二）
【1973年】，索罗斯和好友罗杰斯创建了索罗斯基金管理公司。公司刚开始运作时只有三个人：索罗斯是交易员，罗杰斯是研究员，还有一人是秘书。当时根本没有人注意这个小不点，但是索罗斯却在蓄势待发，他订阅了大量的商业期刊，每天研究成堆的报告，他在寻找着每一个机会、每一个空隙。
【1973年】，机会来了，埃及和叙利亚大举入侵以色列，由于武器落后以色列惨败。从这场战争中，索罗斯联想到美国的武器装备也可能过时，美国国防部可能会花费巨资用新式武器重新装备军队。于是索罗斯基金开始投资那些掌握大量国防部订货合同的公司股票，这些投资为索罗斯基金带来了巨额利润。
索罗斯的独特之处在于，在一种股票流行之前，他能够透过乌云的笼罩看到希望，他很清楚为什么要买或不买。当他发现自己处境不利时，他能走出困境。
卖空是索罗斯公司特别喜爱的招数。索罗斯承认他喜欢通过卖空获胜而赢利，这给他带来谋划后的喜悦。公司把赌注下在几个大的机构上，然后卖空，最后当这些股价猛跌时，公司就赚到了大量的钱。虽然在别人看来，卖空是太大的冒险，但因为索罗斯事前做足了研究和准备工作，因此，他的冒险十有八九都会以胜利而告终。
【1975年】，乔治·索罗斯开始在华尔街社区中引人注目。他赚钱的本领引起了人们的注意。
【1979年】，索罗斯决定将公司更名为量子基金，来源于海森伯格量子力学的测不准定律。因为索罗斯认为市场总是处于不确定的状态，总是在波动。在不确定状态上下注，才能赚钱。
此时索罗斯在英国证券市场运作得非常顺利。在股市上涨到顶峰时，他把英国英镑卖空。他对英国股市采取大量措施，以极低的价格买进，并且数量极大，据说价值10亿美元。这一步棋他最终赚了1亿美元。公司的业绩也令人难以相信，竟然增长了102.6%，资产发展到了3.81亿美元。他是华尔街上鼎鼎有名的大人物了！