He is referring to the us central bank-orchestrated rescue of the Bear Stearns investment bank, which teetered on the brink of bankruptcy because of loan losses.
This week the CBRC hinted for the first time that it may allow the special investment vehicles holding most of this debt to delay loan payments.
本周，银监会表示它们将首次允许特殊投资方接管延迟还贷造成的大部分债务。
3
But it will consist overwhelmingly of the dodgy bits of the investment bank (such as its leveraged-loan and property activities), which will probably be wound up over several years.