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锘?!DOCTYPE html PUBliC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"><html xmlns="http://www.w3.org/1999/xhtml"><head><title>US Central Bank: More Action Needed to Stem Housing Foreclosures - VOA Standard English In 2008</title><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta content="all" name="robots"/><meta content="VOA Standard English In 2008, US Central Bank: More Action Needed to Stem Housing Foreclosures" name="description" /><meta content="VOA Standard English In 2008" name="keywords" /><link rel="stylesheet" type="text/css" href="/images/style.css" /><link rel="stylesheet" type="text/css" href="/images/text-small.css" title="Small Text" /><link rel="alternate stylesheet" type="text/css" href="/images/text-medium.css" title="Medium Text" /><link rel="alternate stylesheet" type="text/css" href="/images/text-large.css" title="Large Text" /></head><body><div><img id="logo" src="/images/voa.gif" alt="VOA" /></div><div id="nav"><a title="VOA" href="http://www.51voa.com/"><b>缇庡浗涔嬮煶</b></a> > <a href="http://www.51voa.com/VOA_Standard_English/index.html">VOA Standard English</a> > <a href="http://www.51voa.com/VOA_Standard_1.html">VOA Standard English In 2008</a> <script type="text/javascript" src="/images/notice.js"></script></div><div id="leftMainContainer"><div id="leftNav"><div class="leftN_title">VOA Standard English</div><ul><li><a href="/VOA_Standard_1.html">VOA Standard English <img src=/images/new.gif border=0></a></li> <li><a href="/VOA_Standard_1_archiver.html">VOA Standard English Archives </a></li> </ul><div class="leftN_title">VOA Special English</div><ul><li><a href="/Development_Report_1.html">Development Report</a></li><li><a href="/This_is_America_1.html">This is America</a></li><li><a href="/Agriculture_Report_1.html">Agriculture Report</a></li><li><a href="/Science_in_the_News_1.html">Science in the News</a></li><li><a href="/Health_Report_1.html">Health Report</a></li><li><a href="/Explorations_1.html">Explorations</a></li><li><a href="/Education_Report_1.html">Education Report</a></li><li><a href="/The_Making_of_a_Nation_1.html">The Making of a Nation</a></li><li><a href="/Economics_Report_1.html">Economics Report</a></li><li><a href="/American_Mosaic_1.html">American Mosaic</a></li><li><a href="/In_the_News_1.html">In the News</a></li><li><a href="/American_Stories_1.html">American Stories</a></li><li><a href="/Words_And_Their_Stories_1.html">Words And Their Stories</a></li><li><a href="/People_in_America_1.html">People in America</a></li></ul><div class="leftN_title">VOA English Learning</div><ul><li><a href="/Word_Master_1.html">Wordmaster</a></li><li><a href="/Learn_A_Word_1.html">Learn A Word</a></li><li><a href="/Bilingual_News_1.html">Bilingual News</a></li><li><a href="/American_Cafe_1.html">American Cafe</a></li><li><a href="/Popular_American_1.html">Popular American</a></li><li><a href="/Business_Etiquette_1.html">Business Etiquette</a></li><li><a href="/Sports_English_1.html">Sports English</a></li><li><a href="/Words_And_Idioms_1.html">Words And Idioms</a></li><li><a href="/Intermediate_American_English_1.html">Intermediate American English</a></li></ul></div><div id="rightContainer"><span class="title">US Central Bank: More Action Needed to Stem Housing Foreclosures</span><div id="contentAds"><script type="text/javascript"><!--google_ad_client = "pub-3585518775245612";/* 51VOAContent */google_ad_slot = "4281465902";google_ad_width = 336;google_ad_height = 280;//--></script><script type="text/javascript"src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script></div><span id="content"><EMBED src="/path.asp?url=/200812/wood_Bernanke_markets_04dec08.mp3" width=280 height=40 type="audio/x-pn-realaudio-plugin" autostart="false" Controls="ControlPanel" tppabs=""></EMBED><BR><a href="/path.asp?url=/200812/wood_Bernanke_markets_04dec08.mp3" class="wwmp3">» Download Audio</a><BR><BR><span class="byline"> By Barry Wood</span> <br> <span class="dateline">Washington</span><br> <span class="datetime"><em>05 December 2008</em></span><br><p> <table style="direction: ltr;" align="right" width="190"> <tbody> <tr> <td style=""><img id="||CPIMAGE:553139|" title="Ben Bernanke testifies before Congressional committee, 20 Oct 2008" alt="Ben Bernanke testifies before Congressional committee, 20 Oct 2008" src="/images/200812/AFP-US-Fed-Reserve-Chairman-Ben-Bernanke190_0.jpg" border="0" height="142" hspace="2" vspace="2" width="190"></td></tr> <tr> <td style="" class="imagecaption">Ben Bernanke (file photo)</td></tr></tbody></table></p>Central bank chairman Ben Bernanke said Thursday that the U.S. home mortgage market is still not functioning properly and more needs to be done to promote a recovery. <br><br>Bernanke spoke at housing conference held at the Federal Reserve. He said the government must do more to turn back the wave of foreclosures on homeowners unable to meet their monthly mortgage payments. More than 2.2 million foreclosures are expected to have occurred this year. <br><br>"Our housing market is under a lot of stress, both because of the adjustment going on because of the housing price correction, but also because the mortgage market is dysfunctional to some extent," he said.<br><br>What has become a global economic crisis was touched off in August 2007 by a wave of defaults in the sub-prime U.S. housing markets. Both the Fed and the Treasury have initiated various programs to assist mortgage borrowers and recently mortgage interest rates have fallen to their lowest levels in several years.<br><br>Stock prices in New York fell Thursday amid rising uncertainty over whether congress will approve emergency loans for the Detroit-based U.S. auto industry. Making their second appearance on Capitol Hill in two weeks, the heads of the big three carmakers warned that without immediate assistance one or more of the companies could go bankrupt. <br><br>Money manager Lincoln Ellis says General Motors shares tumbled 15 percent amid renewed doubts about that company's viability.<br><br>"You're hearing so many conflicting messages [on the auto bailout]?There is also definitely uncertainty on the jobs report that is coming Friday," he said.<br><br>Market participants are anticipating a report showing a loss of up to 300,000 U.S. jobs in November.<br><br>The Dow Jones Industrial Average fell 215 points, or 2.5 percent, to 8,376. It was the first loss for the index in three days.<br><br>Oil prices were steady at below $44 a barrel. Reflecting plummeting global demand, oil is down nearly 70 percent from its July 2008 record high and is now at its lowest level in nearly four years. <br><br><br> </span><div id="list"><ol><LI><A href="VOA_Standard_English_26836.html" target=_blank>Indian Home Minister Admits to 'Lapses' in Mumbai Attacks</A></LI><LI><A href="VOA_Standard_English_26835.html" target=_blank>Report Alleges Human Rights Violations by Police in Turkey</A></LI><LI><A href="VOA_Standard_English_26834.html" target=_blank>ADB Gives Indonesia $500 Million to Clean Up World's Dirtiest River</A></LI><LI><A href="VOA_Standard_English_26833.html" target=_blank>Bangkok's International Airport Officially Reopens</A></LI><LI><A href="VOA_Standard_English_26832.html" target=_blank>US Economy Experiences Worst Job Cuts in Decades</A></LI><LI><A href="VOA_Standard_English_26831.html" target=_blank>Russia, India Sign Agreement to Build Civil Nuclear Reactors</A></LI><LI><A href="VOA_Standard_English_26830.html" target=_blank>Russian Orthodox Church Leader Dies</A></LI><LI><A href="VOA_Standard_English_26829.html" target=_blank>US Says Well Past Time for Zimbabwe's Mugabe to Step Down</A></LI><LI><A href="VOA_Standard_English_26828.html" target=_blank>Race for Ghana's Next President Tightens</A></LI><LI><A href="VOA_Standard_English_26827.html" target=_blank>European Markets End Week on Sour Note</A></LI></ol></div><div class="clearing"></div></div><div class="clearing"></div><div id="footer">© 2001-2008 Powered by <a href="http://www.51voa.com">51VOA.Com</a> <div id="topAds"><script language=javascript src="/topAds.js"></script></div> <div id="count"><script language=javascript src="/count.js"></script></div></div></body></html>⌨️ 快捷键说明
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