VOA词汇大师第518期: 'Bailouts' and 'Golden Parachutes'

可可听力网 2015年08月18日 15:59:00

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      TheBushadministration'sproposed $700 billionbailoutofthefinancialindustryisthetalkofWashingtonrightnow. Butwhereexactlydidtheterm "bailout" comefrom? InthisspecialeditionofWordmaster, AviArdittiandRosanneSkirbleturntodictionaryeditor, BenZimmer, fortheanswer.

      BenZimmer

      BENZIMMER: "Originallyabailoutreferredtoawaythatapilotcouldgetoutofaplaneveryquicklybyopeningupaparachuteandparachutingtosafety. Andthatisspelledb-a-i-l-outinAmericanusage, butBritishspeakerstendtospellitb-a-l-e-out. Buteitherway, itthenbecameappliedtofinancialsituations, whereacompanyorcorporationwouldhavetoberescuedinthesamewaythatsomeonehadtoberescuedfromaplane, bymakinganemergencylandingbyparachute."

      AA: "MyfirstthoughtwhenIwouldhearthattermwasmaybeithadsomethingtodowithaboattakingonwaterandyouwouldbailitout. You'resayingithadtodowithapilotbailingoutofaplane?"

      BENZIMMER: "Yeah, actuallyitisalsorelatedtotheideaofbailingwaterout. Thegeneralimageisoflettingsomethingout. Ifyouspellitasb-a-l-eyoucanunderstanditaslettingabundleout, throughatrapdoor, forinstance. You're --

      RS: "Abaleofhay."

      BENZIMMER: " -- bailingoutthatway. Soithadthesevarioussensesrelatingtojusttryingtogetsomethingoutthedoorveryquickly. Butthefinancialexpressioncomesspecificallyfromtheideaofsomeoneinaplaneneedingtomakeanemergencyparachutelanding."

      RS: "Ajumptosafety."

      Parachutes

      BENZIMMER: "Right. A'goldenparachute.'"

      AA: "Right, agoldenparachute, whattheCEOsget, right? Andjustbriefly, agoldenparachute, sinceyoubroughtthatup, whatexactlyisagoldenparachute?"

      BENZIMMER: "Theideaisthatasthecompanyisgoingdownhill, asthecompanyisabouttocrash, theCEO [chiefexecutiveofficer] orotherexecutivesgetsomeverysweetdealtogetoutofthesituation. Sothey'renotjustbeingbailedout, butthey'regettingatidysumofmoney. Sothatbecamereferredtoasagoldenparachute. Startinginthenineteeneightiesweheardaboutthat, wheresometimesthere'dbeacontractthatwasagreeduponsothatif, forinstance, anexecutive -- notnecessarilyifthatcompanywasgoingtogobankrupt, butjustifthecompanywasgoingtofiresomeone, theexecutivewouldmakesurethatheorshehadsomethinginthecontractstatingthattheywouldgetaverylargesumofmoneyifthatshouldhappen. Andthatwasalsocalledagoldenparachute."