难道格林斯潘错过最好时机?

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The U.S. Treasury's Troubled Asset Relief Program has been partially successful in recapitalizing banks. Nevertheless, the TARP still has work to do because investors--both depositors and holders of bank debt, apparently now seek a significantly larger capital cushion in banks than they did prior to the current crisis. Assuaging investor concerns apparently will require not only capital infusion to replenish an estimated hundreds of billions of dollars of unrecorded losses, but an additional buffer that would add a needed several percentage points to the capital asset ratio. Moreover, until risk-taking investors freely fund banks, loan officers will remain chary of granting new loans. To stabilize the American Banking System and restore a normal lending, additional TARP funds will be required.

Glossary:

1 the Troubled Asset Relief Program (TARP): a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the government's measures in 2008 to address the subprime mortgage crisis.

2 capital cushion:缓冲资本

3 assuage: vt.减轻

4 replenish: To fill or make complete again; 补充,把…再装满或再备足；

5 buffer: n.起缓冲作用的人(或物)；

6 the capital asset ratio: 资本资产比率

7 chary: very cautious; wary 非常小心谨慎的；警惕的