Thank you. Everybody, please have a seat, have a seat. 谢谢大家。请各位就座，请就座。
Well, good morning, everyone. 那么，大家早上好。
We are gathered in the heart of our nation's capital, surrounded by memorials to leaders and citizens who served our nation in its earliest days and in its days of greatest trial. Today is such a time for America. 我们聚集在我国首都的中心地带，四周环绕着纪念那些在我国立国之初和最艰难岁月中为国效力的领袖与公民的纪念碑。今天，美国正处于这样的时刻。
Over the past two years, we have faced the worst recession since the Great Depression. Eight million people lost their jobs. Tens of millions saw the value of their homes and retirement savings plummet. Countless businesses have been unable to get the loans they need and many have been forced to shut their doors. And although the economy is growing again, too many people are still feeling the pain of the downturn. 过去两年间，我们遭遇了大萧条以来最严重的经济衰退。八百万人失去了工作。数千万人的住房价值和退休储蓄大幅缩水。无数企业无法获得所需贷款，许多企业被迫关门。尽管经济再次增长，但仍有太多人在承受衰退带来的痛苦。
Now, while a number of factors led to such a severe recession, the primary cause was a breakdown in our financial system. It was a crisis born of a failure of responsibility from certain corners of Wall Street to the halls of power in Washington. For years, our financial sector was governed by antiquated and poorly enforced rules that allowed some to game the system and take risks that endangered the entire economy. 虽然诸多因素导致了如此严重的衰退，但其根本原因在于我们金融体系的崩溃。这场危机源于从华尔街某些角落到华盛顿权力走廊的责任缺失。多年来，我们的金融部门受制于陈旧且执行不力的规则，让一些人得以操纵系统、承担危及整个经济的风险。
Unscrupulous lenders locked consumers into complex loans with hidden costs. Firms like AIG placed massive, risky bets with borrowed money. And while the rules left abuse and excess unchecked, they also left taxpayers on the hook if a big bank or financial institution ever failed. 无良贷款方将消费者锁定在隐藏成本的复杂贷款中。像AIG这样的公司用借来的钱进行大规模、高风险的押注。规则对滥用和过度行为不加约束，却让纳税人在大银行或金融机构倒闭时承担后果。
Now, even before the crisis hit, I went to Wall Street and I called for common-sense reforms to protect consumers and our economy as a whole. And soon after taking office, I proposed a set of reforms to empower consumers and investors, to bring the shadowy deals that caused this crisis into the light of day, and to put a stop to taxpayer bailouts once and for all. Today, thanks to a lot of people in this room, those reforms will become the law of the land. 事实上，在危机爆发之前，我就曾前往华尔街，呼吁进行常识性改革，以保护消费者和整个经济。就职后不久，我便提出了一系列改革方案，旨在赋予消费者和投资者更多权力，将导致这场危机的暗箱交易公之于众，并彻底叫停纳税人的救助。今天，多亏了在座许多人的努力，这些改革将成为国家法律。
For the last year, Chairmen Barney Frank and Chris Dodd have worked day and night. Barney and Chris have worked day and night to bring about this reform. And I am profoundly grateful to them. I would be remiss if I didn't also express my appreciation to Senator Harry Reid and Speaker Nancy Pelosi for their leadership. It wouldn't have happened without them. 过去一年来，巴尼·弗兰克主席和克里斯·多德主席夜以继日地工作。巴尼和克里斯夜以继日地推动这项改革。我对他们深表感激。如果我不向参议员哈里·瑞德和众议院议长南希·佩洛西的领导表达谢意，那是我的失职。没有他们，这一切不会发生。
Passing this bill was no easy task. To get there, we had to overcome the furious lobbying of an array of powerful interest groups and a partisan minority determined to block change. So the members who are here today, both on the stage and in the audience, they have done a great service in devoting so much time and expertise to this effort, to looking out for the public interests and not the special interests. 通过这项法案绝非易事。为此，我们必须克服众多强大利益集团的疯狂游说，以及决意阻挠变革的党派少数派。因此，今天在场的各位，无论是台上的还是在观众席中的，他们都付出了大量时间和专业知识，致力于这项努力，为公众利益而非特殊利益着想，这是巨大的贡献。
And I also want to thank the three Republican senators who put partisanship aside, judged this bill on the merits, and voted for reform. We're grateful to them. And the Republican House members. Good to see you, Joe. 我也要感谢三位共和党参议员，他们抛开党派分歧，依据法案本身的价值作出判断，并投票支持改革。我们对他们深表感激。也感谢共和党籍的众议员。乔，很高兴见到你。
Now, let's put this in perspective. The fact is, the financial industry is central to our nation's ability to grow, to prosper, to compete and to innovate. There are a lot of banks that understand and fulfill this vital role, and there are a whole lot of bankers who want to do right -- and do right -- by their customers. This reform will help foster innovation, not hamper it. It is designed to make sure that everybody follows the same set of rules, so that firms compete on price and quality, not on tricks and not on traps. 现在，让我们客观地看这件事。事实上，金融业对我国增长、繁荣、竞争和创新的能力至关重要。许多银行理解并履行这一重要角色，也有许多银行家想要为客户做正确的事——做正确的事。这项改革将促进创新，而非阻碍创新。它的设计目的是确保每个人都遵循同一套规则，让企业通过价格和质量竞争，而不是靠欺骗和陷阱。
It demands accountability and responsibility from everyone. It provides certainty to everybody, from bankers to farmers to business owners to consumers. And unless your business model depends on cutting corners or bilking your customers, you've got nothing to fear from reform. 它要求每个人都承担责任。它为所有人提供确定性——从银行家到农民，从企业主到消费者。除非你的商业模式依赖于偷工减料或欺诈客户，否则你不必惧怕改革。
Now, for all those Americans who are wondering what Wall Street reform means for you, here's what you can expect. If you've ever applied for a credit card, a student loan, or a mortgage, you know the feeling of signing your name to pages of barely understandable fine print. What often happens as a result is that many Americans are caught by hidden fees and penalties, or saddled with loans they can't afford. 现在，对于所有想知道华尔街改革对自己意味着什么的美国人来说，以下就是你可以期待的。如果你曾申请过信用卡、学生贷款或抵押贷款，你就知道在密密麻麻、难以理解的细则上签下名字的感受。结果往往是，许多美国人被隐藏费用和罚款套牢，或背负无法承受的贷款。
That's what happened to Robin Fox, hit with a massive rate increase on her credit card balance even though she paid her bills on time. That's what happened to Andrew Giordano, who discovered hundreds of dollars in overdraft fees on his bank statement -- fees he had no idea he might face. Both are here today. Well, with this law, unfair rate hikes, like the one that hit Robin, will end for good. And we'll ensure that people like Andrew aren't unwittingly caught by overdraft fees when they sign up for a checking account. 罗宾·福克斯就遭遇了这样的事——尽管她按时还款，信用卡余额却遭到大幅利率上调。安德鲁·乔达诺也遭遇了同样的事——他在银行对账单上发现数百美元的透支费用，而这些费用他毫不知情可能会被收取。两人今天都在场。通过这项法律，像罗宾遭遇的那种不公平利率上调将彻底终结。我们也将确保像安德鲁这样的人在开立支票账户时不会在不知情的情况下被透支费用套牢。
With this law, we'll crack down on abusive practices in the mortgage industry. We'll make sure that contracts are simpler -- putting an end to many hidden penalties and fees in complex mortgages -- so folks know what they're signing. 通过这项法律，我们将严厉打击抵押贷款行业的滥用行为。我们将确保合同更加简洁——终止复杂抵押贷款中许多隐藏的罚款和费用——让借款人清楚自己签的是什么。
With this law, students who take out college loans will be provided clear and concise information about their obligations. 通过这项法律，申请大学贷款的学生将获得关于其义务的清晰简洁的信息。
And with this law, ordinary investors -- like seniors and folks saving for retirement -- will be able to receive more information about the costs and risks of mutual funds and other investment products, so that they can make better financial decisions as to what will work for them. 通过这项法律，普通投资者——如老年人和为退休储蓄的人——将能获得更多关于共同基金和其他投资产品的成本和风险信息，从而做出更符合自身需求的财务决策。
So, all told, these reforms represent the strongest consumer financial protections in history. In history. And these protections will be enforced by a new consumer watchdog with just one job: looking out for people -- not big banks, not lenders, not investment houses -- looking out for people as they interact with the financial system. 总而言之，这些改革代表了历史上最强大的消费者金融保护。是历史上最强。这些保护将由一个新的消费者监督机构执行，它只有一项任务：为人民着想——不是大银行，不是贷款方，不是投资机构——而是在人民与金融系统打交道时为他们着想。
And that's not just good for consumers; that's good for the economy. Because reform will put a stop to a lot of the bad loans that fueled a debt-based bubble. And it will mean all companies will have to seek customers by offering better products, instead of more deceptive ones. 这不仅对消费者有益，对经济也有益。因为改革将制止许多助长债务泡沫的不良贷款。这也意味着所有公司必须通过提供更好的产品来赢得客户，而不是更具欺骗性的产品。
Now, beyond the consumer protections I've outlined, reform will also rein in the abuse and excess that nearly brought down our financial system. It will finally bring transparency to the kinds of complex and risky transactions that helped trigger the financial crisis. Shareholders will also have a greater say on the pay of CEOs and other executives, so they can reward success instead of failure. 现在，除了我刚才概述的消费者保护之外，改革还将约束那些几乎拖垮我们金融体系的滥用和过度行为。它最终将使引发金融危机的复杂和高风险交易变得透明。股东也将对CEO和其他高管的薪酬拥有更大话语权，从而让他们能够奖励成功而非失败。
And finally, because of this law, the American people will never again be asked to foot the bill for Wall Street's mistakes. There will be no more tax-funded bailouts -- period. If a large financial institution should ever fail, this reform gives us the ability to wind it down without endangering the broader economy. And there will be new rules to make clear that no firm is somehow protected because it is "too big to fail," so we don't have another AIG. 最后，因为这项法律，美国人民将永远不必再为华尔街的错误买单。再也不会有用纳税人钱进行的救助——绝不。如果大型金融机构倒闭，这项改革赋予我们在不危及更广泛经济的情况下将其清算的能力。还将出台新规则，明确任何公司都不会因"大而不倒"而受到保护，从而避免重蹈AIG的覆辙。
That's what this reform will mean. Now, it doesn't mean our work is over. For these new rules to be effective, regulators will have to be vigilant. We may need to make adjustments along the way as our financial system adapts to these new changes and changes around the globe. No law can force anybody to be responsible; it's still incumbent on those on Wall Street to heed the lessons of this crisis in terms of how they conduct their businesses. 这就是这项改革的意义。现在，这并不意味着我们的工作已经结束。要让这些新规则发挥效力，监管机构必须保持警惕。随着金融系统适应这些新变化以及全球范围内的变化，我们可能需要沿途做出调整。没有任何法律能强迫任何人承担责任；华尔街的人仍有责任从这场危机中汲取教训，反思自身的经营方式。
The fact is every American -- from Main Street to Wall Street -- has a stake in our financial system. Wall Street banks and firms invest the capital that makes it possible for start-ups to sell new products. They provide loans to businesses to expand and to hire. They back mortgages for families purchasing a new home. That's why we'll all stand to gain from these reforms. 事实上，每一个美国人——从主街到华尔街——都与我们的金融体系息息相关。华尔街的银行和公司投资资本，使初创企业能够销售新产品。它们为企业提供贷款以扩张和招聘。它们为购买新房的家庭提供抵押贷款支持。正因如此，我们所有人都将从这些改革中受益。
We all win when investors around the world have confidence in our markets. We all win when shareholders have more power and more information. We all win when consumers are protected against abuse. And we all win when folks are rewarded based on how well they perform, not how well they evade accountability. 当世界各地的投资者对我们的市场有信心时，我们大家都赢。当股东拥有更多权力和更多信息时，我们大家都赢。当消费者得到保护、免受滥用之害时，我们大家都赢。当人们因其表现而非其逃避问责的能力获得回报时，我们大家都赢。
In the end, our financial system only works -- our market is only free -- when there are clear rules and basic safeguards that prevent abuse, that check excess, that ensure that it is more profitable to play by the rules than to game the system. And that's what these reforms are designed to achieve -- no more, no less. Because that's how we will ensure that our economy works for consumers, that it works for investors, that it works for financial institutions -- that it works for all of us. 归根结底，我们的金融体系只有在具备明确的规则和基本保障、防止滥用、约束过度、确保守规则比钻空子更有利可图时，才能正常运转——我们的市场也只有这样才能称得上自由。这正是这些改革旨在实现的目标——不多不少。因为只有这样，我们才能确保我们的经济为消费者服务，为投资者服务，为金融机构服务——为我们所有人服务。
This is the central lesson not only of this crisis but of our history. Ultimately, there's no dividing line between Main Street and Wall Street. We rise or fall together as one nation. So these reforms will help lift our economy and lead all of us to a stronger, more prosperous future. 这不仅是这场危机的核心教训，也是我们历史的教训。归根结底，主街和华尔街之间并没有分界线。我们作为一个国家，将同荣同损。因此，这些改革将帮助提振我们的经济，引领我们所有人走向更强大、更繁荣的未来。
And that's why I'm so honored to sign these reforms into law, and I'm so grateful to everybody who worked so hard to make this day possible. 正因如此，我深感荣幸能将这些改革签署为法律，我也对所有为促成这一天而辛勤工作的人深表感激。
Thank you very much, everybody. 非常感谢大家。
