问答题Directions:Read the following text carefully and then
translate the underlined segments into Chinese. It's now
clear that the flood of money into emerging markets was another financial
bubble. There was the housing bubble, of course. But before that there was the
dot-corn bubble; before that the Asian bubble; before that the commercial real
estate bubble. {{U}} {{U}} 1 {{/U}} {{/U}}{{U}}That last bubble,
by the way, imposed a huge cost on taxpayers, who had to bail out failed
savings-and-loan institutions.{{/U}} The thing is, it wasn't
always thus. The 50s, the 60s, even the troubled 70s, weren't nearly as
bubble-prone. So what changed? One popular answer involves
blaming the Federal Reserve—the loose-money policies of Ben Bernanke and, before
him, Alan Greenspan. {{U}} {{U}} 2 {{/U}} {{/U}}{{U}}And it's
certainly true that for the past few years the Fed has tried hard to push down
interest rates, both through conventional policies and through unconventional
measures like buying long-term bonds{{/U}}. The resulting low rates certainly
helped send investors looking for other places to put their money, including
emerging markets. But the Fed was only doing its job. It's
supposed to push interest rates down when the economy is depressed and inflation
is low. And what about the series of earlier bubbles, which, at this point,
reach back a generation? {{U}} {{U}} 3 {{/U}}
{{/U}}{{U}}I know that there are some people who believe that the Fed has been
keeping interest rates too low, and printing too much money, all along.{{/U}} But
interest rates in the 80s and 90s were actually high by historical standards,
and even during the housing bubble they were within historical norms. Besides,
isn't the sign of excessive money printing supposed to be rising inflation?
We've had a whole generation of successive bubbles—and inflation is lower than
it was at the beginning. The other obvious culprit is financial
deregulation—not just in the U.S. but around the world, and including the
removal of most controls on the international movement of capital. {{U}}
{{U}} 4 {{/U}} {{/U}}{{U}}Banks gone wild were at the heart of the
commercial real estate bubble of 1980s and the housing bubble that burst in
2007.{{/U}} Cross-border flows of hot money were at the heart of the Asian crisis
of 1997-1 998 and the crisis now erupting in emerging markets—and were central
to the ongoing crisis in Europe, too. {{U}} {{U}}
5 {{/U}} {{/U}}{{U}}In short, the main lesson of this age of bubbles—a
lesson that India, Brazil, and others are learning once again—is that when the
financial industry is set loose to do its thing, it lurches from crisis to
crisis.{{/U}}
【答案解析】[解析] 本句包含一个由“who”引导的非限制性定语从句，修饰的对象是“taxpayer”。定语从句中，主语是“who”；谓语核心是“bail out”；宾语是“failed savings-and-loan institution”。从整个句子来看，“the last bubble”是主语；“imposed”是谓语核心；“a huge cost on taxpayers”是宾语。此外，“by the way”是插入语。
【答案解析】[解析] 本句总体上的结构是“it is certainly true”，其中，“it”充当形式主语，而逻辑主语是后面由“that...”引导的句子。表示逻辑主语的句子中，“for the past few years”是时间状语；“the Fed”是主语；“push down”是谓语核心；“interest rates”是宾语；“both through conventional policies and through unconventional measures like buying long-term bonds”是方式状语。
【答案解析】[解析] 本句结构较为复杂的部分是“at the heart of”所接的并列宾语“the commercial real estate bubble of the 1980s”和“the housing bubble that burst in 2007”。其中，第二个宾语中包含一个由“that”引导的定语从句，修饰的对象是“the housing bubble”。