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I want to roll the dice a little bit more in this situation What was Congressman Frank thinking?
我想在让他们更进一步,在这种情况下,国会议员弗兰克为什么这么说？
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I don't know what it takes to replicate that in China, but I certainly hope one day there will be a place in China that looks like Silicon Valley.
无法想象如何在中国复制一个硅谷，但我希望在将来,中国会有类似硅谷的地方。
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They didn't want flippers; they didn't want the company that's speculating in real estate, they want it to be a holder of real estate.
国会不希望投资者快进快出,不希望他们在房地产市场投机,而是希望他们是房地产的持有人
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Now, you did have, in many of these countries, diets, or parliaments, or some representative bodies.
在很多绝对主义国家里,都设有国会,议会,或者是其他代议机构
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Because at the whim of the king, or for that matter, of the parliament, we can name you or you to give up your property or to give up your life.
因为这样的话，国王就可以随心所欲，在这种情况下，就是国会可以随心所欲，让你们中的任何人放弃财产，或放弃生命。
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Congress said, finally--I think wisely--in 1986, that we don't want to create rules that encourage people to do a different sort of business just to evade taxes.
最终,国会在1986年明智地提出,我们不想制定法规,鼓励人们仅仅为了避税,而尝试不同的赚钱方式
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The first wave was in the 1960s and, at that time, Congress had limits-- state governments had limits on the interest that savings banks could pay people on their accounts.
在20世纪60年代,那时候国会限制了...,各州政府给储蓄银行,设定了账户利率的支付上限
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We need--and there's a lot of talk in Congress right now -we need to think about new regulations that protect individuals, much like the regulations that the HOLC and the FHA made.
现在国会里有很多人都在讨论这个问题,我们需要思考关于,能用来保护个人权益的新法规,像房主贷款公司和联邦住宅管理局的制度
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The FHA is still with us and we just had an FHA Modernization Act; Congress is starting to propel that forward I wanted to say a little bit about the math of mortgages.
联邦住宅管理局还在,我们有联邦住宅管理局现代化法,国会正在进一步实施这个法案,我想讲一点抵押贷款的数学知识
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Well in a sense, the other thing that happened was, in 1934, Congress set up the Federal Housing Administration--FHA.
另一件事发生在1934年,国会建立了联邦住宅管理局,即FHA
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One--the first wave of REIT growth occurred right after Congress passed the 1960 bill.
EITs增长的第一波高潮,发生在国会1960年法案通过之后
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