来自《耶鲁大学开放课程：金融市场第18集第18集》

because so many of them failed.

因为他们大多倒闭了
That led to an idea that we had to do something different.

这也使人们产生了做出改变的想法
The big milestone in pension

养老基金史上的重要里程碑
history is the General Motors Pension Fund,

是通用汽车养老基金
GM Pension, which was created in 1950 and

通用汽车养老基金创立于1950年
it was promoted by GM Chairman, Charles Wilson.

它由通用主席查尔斯·威尔森发起创立
I visited them recently;

前些天我还去参观过
they're in that building

基金设在
right across the street from the Plaza Hotel

街对面的广场饭店
at the corner of Central Park;

在中央公园的一角
they're a very big organization now.

他们现在是一个庞大的组织
The thing that GM Pension Fund did, it invested--it funded--

通用养老基金所做的是用专款进行投资