WARM-UP VIDEO FOR LINKING BETWEEN WORDS

Instructions. What do expressions 'even now', 'in New York' and 'and not' have in common? The sound 'n'! In fast speech, these expressions might be difficult to catch because they last sound of the first word links with the first sound of the second word, and so they sound more like 'evenow', 'inew York' and 'a not'. Listen and fill the gaps with two words that link together

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Exercise. Complete each gap with suitable words and expressions you hear from the video.

fund what they do is borrow money, make promises to pay later. (1) ………….. just any money. They promise to depositors that they can get their money anytime. We used to have a separation between investment banks and commercial banks, deposit-taking institutions. If you take deposits, you can only do this (2) ………….. that. That's a tough subject. The problem is it might help, but if they remain fragile, under water, like homeowners whose house is worth less than they owe. (3) ………….., all kinds of terrible things are going to happen. The government can bail them out. But in the case of banks, there will one source of fragility. Bad regulation. (4) ………….., because they saw that the banks were gaming this regulation. This regulation, by the way-- Basel II-- was not implemented It used to also be that they accepted some other things that might be equity, might absorb losses under some conditions, (5) …………..such capital-- what they called-- absorbed losses in the crisis. Everybody got paid. to have runs. The downside will be borne by the same people who have the upside (6) …………..by the rest of society, not the taxpayers. They won't need bailouts. about why you might borrow more or less but we have theories about that. (7) ………….. industry (8) ………….. borrowers in the economy without any regulation has as little equity on a regular basis. These banks are monstrous, inefficiently monstrous. If they had to fund in market prices (9) ………….. in subsidized way and would have less incentives to be so big and complicated, in order to be too big to fail, then we might begin to see more efficient institutions being If you were to start reading about what's going on, about the things I'm talking about, you wouldn't (10) ………….. that this is under discussion. Because the word is not equity. They use the word capital. that's plentiful for corporations out there. And that most corporations use. (11) ………….. problem in the Silicon Valley. Nobody borrows so much. And so, they confuse the debate with incredible nonsense. This he says after a crisis in which growth suffered the most since the Great Depression. (12) ………….. because they had too much equity but because they had too little. but $5 for the book, maybe you'll want to become an expert on banking, too. So you, too, (13) ………….. that the banking emperors are naked. [APPLAUSE] AUDIENCE: So as I read the book, the thing

Key: Look at the key and say aloud the script from the video to improve your English.

fund what they do is borrow money, make promises to pay later. (1) (And not) just any money. They promise to depositors that they can get their money anytime. We used to have a separation between investment banks and commercial banks, deposit-taking institutions. If you take deposits, you can only do this (2) (and not) that. That's a tough subject. The problem is it might help, but if they remain fragile, under water, like homeowners whose house is worth less than they owe. (3) (And now) , all kinds of terrible things are going to happen. The government can bail them out. But in the case of banks, there will one source of fragility. Bad regulation. (4) (And now) , because they saw that the banks were gaming this regulation. This regulation, by the way-- Basel II-- was not implemented It used to also be that they accepted some other things that might be equity, might absorb losses under some conditions, (5) (and no) such capital-- what they called-- absorbed losses in the crisis. Everybody got paid. to have runs. The downside will be borne by the same people who have the upside (6) (and not) by the rest of society, not the taxpayers. They won't need bailouts. about why you might borrow more or less but we have theories about that. (7) (And no) industry (8) (and no) borrowers in the economy without any regulation has as little equity on a regular basis. These banks are monstrous, inefficiently monstrous. If they had to fund in market prices (9) (and not) in subsidized way and would have less incentives to be so big and complicated, in order to be too big to fail, then we might begin to see more efficient institutions being If you were to start reading about what's going on, about the things I'm talking about, you wouldn't (10) (even know) that this is under discussion. Because the word is not equity. They use the word capital. that's plentiful for corporations out there. And that most corporations use. (11) (And no) problem in the Silicon Valley. Nobody borrows so much. And so, they confuse the debate with incredible nonsense. This he says after a crisis in which growth suffered the most since the Great Depression. (12) (And not) because they had too much equity but because they had too little. but $5 for the book, maybe you'll want to become an expert on banking, too. So you, too, (13) (can know) that the banking emperors are naked. [APPLAUSE] AUDIENCE: So as I read the book, the thing

Sources: 

Channel: Talks at Google. Anat Admati, "What's Wrong with Banking and What to Do About It" | Talks at Google: https://www.youtube.com/watch?v=0kdYHG32oig

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Compiled by Top Grade Edu