The Growing Credit Crisis Forces Many Companies to Seek Government Help

On September fifteenth, Lehman Brothers, a one hundred fifty-eight year-old investment bank, sought legal protection from its creditors. It had failed to find a buyer after months of searching. With over six hundred billion dollars in debt, Lehman’s failure was the largest bankruptcv in United States history At the same time，the nation’s biggest insurance company，American International Group, had gotten into trouble selling credit default swaps These are contracts Similar to insurance that protect the holder against credit risk.

Credit rating agencies downgraded A.I.G because of concerns it could not honor its contracts. Unable to get new loans, A.I.G asked for government help The Federal Reserve agreed to loan A .I.G. eighty-five billion dollars in return for eighty percent of the company but it was not enough. By November, the government had extended a total of about one hundred fiftv billion doliars in aid to A .I.G—the most to any single company during the crisis.

As banks refused to lend, Treasury Secretary Henry Paulson proposed a plan to loosen credit markets by buylng risky assets. Congress approved the Emergency Economic Stabilization Act of Two. Thousand eight on October third The bill provided seven hundred billion dollars to buy hard to-value securltles from banks. But within weeks, the government changed plans. The Treasury moved to invest two handred fifty billion dollars directly in banks to help them lend money again.

Lack of credit not only hurt banks but manufacturers, too. Falling car sales threatened America’s carmakers The big three automakers—General Motors, Ford and Chrysler—told Congress that they needed loans or they faced bankmptcy. In December, President Bush offered G.M and Chrysler over seventeen billion dollars in loans.

As the year ended, the Federal Reserve tried to support economic growth by lowering its main interest rate to nearly zero for the first time. But there was one more bad surprise New York money manager Bernard Madoff admitted he had cheated investors out of fifty billion dollars. The news only added to the sense that two thousand eight was the worst economic year since the nineteen thirties.

Which of the following is NOT the problem in the passage Lehman Brothers was faced with?

A. lt is an Investment bank with more than one and a half centuries history.

B. It didn’t find a buyer after months of searching.

C. It has over six hundred billion dollars in debt.

D. Its failure was the largest bankruptcy in United States history.

The reason why A.I.G turned to the U.S government for help was that .

A. A.I.G would give eighty percent of the company in return for the loan

B. A.I.G couldn’t get new loans from credit rating agencies

C. the government extended a total of about one hundred fifty billion dollars in aid to A.I.G

D. the Federal Reserve agreed to loan A.I G eighty-five billion dollars

According to the passage, which of the following is probably NOT suffering from the lack of_______ .

A. Banks． B. Manufacturers C. Carmakers D. Barbers

The last sentence of this passage indicates that the author’s attitude towards the U.S economy in 2008 is

A.pessimistic B. optimistic C. objective D.subjective

The Growing Credit Crisis Forces Many Companies to Seek Government Help
On September fifteenth, Lehman Brothers, a one hundred fifty-eight year-old investment bank, sought legal protection from its creditors. It had failed to find a buyer after months of searching. With over six hundred billion dollars in debt, Lehman’s failure was the largest bankruptcv in United States history At the same time，the nation’s biggest insurance company，American International Group, had gotten into trouble selling credit default swaps These are contracts Similar to insurance that protect the holder against credit risk.
Credit rating agencies downgraded A.I.G because of concerns it could not honor its contracts. Unable to get new loans, A.I.G asked for government help The Federal Reserve agreed to loan A .I.G. eighty-five billion dollars in return for eighty percent of the company but it was not enough. By November, the government had extended a total of about one hundred fiftv billion doliars in aid to A .I.G—the most to any single company during the crisis.
As banks refused to lend, Treasury Secretary Henry Paulson proposed a plan to loosen credit markets by buylng risky assets. Congress approved the Emergency Economic Stabilization Act of Two. Thousand eight on October third The bill provided seven hundred billion dollars to buy hard to-value securltles from banks. But within weeks, the government changed plans. The Treasury moved to invest two handred fifty billion dollars directly in banks to help them lend money again.
Lack of credit not only hurt banks but manufacturers, too. Falling car sales threatened America’s carmakers The big three automakers—General Motors, Ford and Chrysler—told Congress that they needed loans or they faced bankmptcy. In December, President Bush offered G.M and Chrysler over seventeen billion dollars in loans.
As the year ended, the Federal Reserve tried to support economic growth by lowering its main interest rate to nearly zero for the first time. But there was one more bad surprise New York money manager Bernard Madoff admitted he had cheated investors out of fifty billion dollars. The news only added to the sense that two thousand eight was the worst economic year since the nineteen thirties

1.
Which of the following is NOT the problem in the passage Lehman Brothers was faced with?
1. A.
  lt is an Investment bank with more than one and a half centuries history
2. B.
  It didn’t find a buyer after months of searching
3. C.
  It has over six hundred billion dollars in debt
4. D.
  Its failure was the largest bankruptcy in United States history
2.
The reason why
1. A.
  I.G turned to the U.S government for help was that .
  A. A.I.G would give eighty percent of the company in return for the loan
2. B.
  A.I.G couldn’t get new loans from credit rating agencies
3. C.
  the government extended a total of about one hundred fifty billion dollars in aid to A
4. D.
  G
5. E.
  the Federal Reserve agreed to loan A.I G eighty-five billion dollars
3.
According to the passage, which of the following is probably NOT suffering from the lack of_______
1. A.
  Banks．
2. B.
  Manufacturers
3. C.
  Carmakers
4. D.
  Barbers
4.
The last sentence of this passage indicates that the author’s attitude towards the U.S economy in 2008 is
1. A.
  pessimistic
2. B.
  optimistic
3. C.
  objective
4. D.
  subjective

lt is only ________ from the station to the park.

A.
a 15 minutes'walk
B.
a 15-minutes walk
C.
a 20 minute walk
D.
a 20-minutes'walk

（湖北省黄冈市黄州区一中2010届高三第二次月考）

A

The Growing Credit Crisis Forces Many Companies to Seek Government Help

On September fifteenth, Lehman Brothers, a one hundred fifty-eight year-old investment bank, sought legal protection from its creditors. It had failed to find a buyer after months of searching. With over six hundred billion dollars in debt, Lehman’s failure was the largest bankruptcv in United States history At the same time，the nation’s biggest insurance company，American International Group, had gotten into trouble selling credit default swaps These are contracts Similar to insurance that protect the holder against credit risk.

Credit rating agencies downgraded A.I.G because of concerns it could not honor its contracts. Unable to get new loans, A.I.G asked for government help The Federal Reserve agreed to loan A .I.G. eighty-five billion dollars in return for eighty percent of the company but it was not enough. By November, the government had extended a total of about one hundred fiftv billion doliars in aid to A .I.G—the most to any single company during the crisis.

As banks refused to lend, Treasury Secretary Henry Paulson proposed a plan to loosen credit markets by buylng risky assets. Congress approved the Emergency Economic Stabilization Act of Two. Thousand eight on October third The bill provided seven hundred billion dollars to buy hard to-value securltles from banks. But within weeks, the government changed plans. The Treasury moved to invest two handred fifty billion dollars directly in banks to help them lend money again.

Lack of credit not only hurt banks but manufacturers, too. Falling car sales threatened America’s carmakers The big three automakers—General Motors, Ford and Chrysler—told Congress that they needed loans or they faced bankmptcy. In December, President Bush offered G.M and Chrysler over seventeen billion dollars in loans.

As the year ended, the Federal Reserve tried to support economic growth by lowering its main interest rate to nearly zero for the first time. But there was one more bad surprise New York money manager Bernard Madoff admitted he had cheated investors out of fifty billion dollars. The news only added to the sense that two thousand eight was the worst economic year since the nineteen thirties.

56. Which of the following is NOT the problem in the passage Lehman Brothers was faced with?

A. lt is an Investment bank with more than one and a half centuries history.

B. It didn’t find a buyer after months of searching.

C. It has over six hundred billion dollars in debt.

D. Its failure was the largest bankruptcy in United States history.

57. The reason why A.I.G turned to the U.S government for help was that .

A. A.I.G would give eighty percent of the company in return for the loan

B. A.I.G couldn’t get new loans from credit rating agencies

C. the government extended a total of about one hundred fifty billion dollars in aid to A.I.G

D. the Federal Reserve agreed to loan A.I G eighty-five billion dollars

58. According to the passage, which of the following is probably NOT suffering from the lack of_______ .

A. Banks． B. Manufacturers C. Carmakers D. Barbers

59. The last sentence of this passage indicates that the author’s attitude towards the U.S economy in 2008 is

A.pessimistic B. optimistic C. objective D.subjective

Which of the following is NOT the problem in the passage Lehman Brothers was faced with?

The reason why

According to the passage, which of the following is probably NOT suffering from the lack of_______

The last sentence of this passage indicates that the author’s attitude towards the U.S economy in 2008 is

lt is only ________ from the station to the park.

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