In theory privatisation has the scope to restructure the economy, but a fire sale risks letting the choicest assets fall into the hands of cronies who will manipulate regulation to suit themselves.

以私有化理论重建经济有它的适用范围。但是一场火速竞拍的风险就是会使那些优质的资产流入那群可以暗中操控以中饱私囊的狐朋狗友手中。

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Sir Mervyn said that three reforms topped his list: regulation, resolution and restructure.

BBC: Sir Mervyn King rejects criticism for crisis