About AP (Associated Press)
 Founded in 1848, The Associated Press is the backbone of the world's information system serving thousands of daily newspaper, radio, television and online customers with coverage in all media and news in all formats. It is the largest and oldest news organization in the world, serving as a source of news, photos, graphics, audio and video for more than one billion people a day. The Associated Press has received 47 Pulitzer Prizes, more than any other news organization in the categories for which it can compete. AP operates as a not-for-profit cooperative with 3,700 employees working in more than 240 worldwide bureaus.
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2008.06.20
====================================================  新闻听写
1. Two former Bear Stearns managers were arrested this morning on 1 . It s in connection with the collapse of a hedge fund that heavily bet on 2 before the market collapsed.
2. Some flooded-out Midwest homeowners say FEMA gave them a false sense of security. They say the federal government assured them in 1999 that a levee was 3 , so many dropped their flood insurance. At least 22 levees in the three flood-stricken states have already been topped by floodwaters this week. There is concern dozens more could overflow.
3. Barack Obama says he is going to 4 for his campaign. The Democratic presidential candidate had previously said he would accept public funding which limits the amount campaigns can spend.
4. And imagine walking down the aisle wearing this. Hundreds of people took part in a contest to make wedding dresses using only 5 . The winner took home 1, 000 dollars.
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WORDS IN THE NEWS
1.securities [plural]n.
stocks or shares in a company
2.hedge [countable]n.
something that protects you against possible problems, especially financial loss
3.bet [intransitive and transitive]v.
to risk money on the result of a race, game, competition, or other future event [gamble]
bet on sth
4.subprime mortgages次级抵押贷款
5.FEMA
The Federal Emergency Management Agency, or FEMA, is an agency of the United States Department of Homeland Security. The purpose of FEMA (begun by Presidential Order on April 1, 1979) is to coordinate the response to a disaster which has occurred in the United States and which overwhelms the resources of local and state authorities.
6.sturdy adj.
an object that is sturdy is strong, well-made, and not easily broken [? solid]
7.withstand [transitive]v.
to be strong enough to remain unharmed by something such as great heat, cold, pressure etc [= resist, stand up to]
8.be topped by
to have something on top
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