translation.en: If people can find that that sub-prime product has been transferred across nations many, many times until it ends up in banks in Iceland or the rest in Britain, and people's ordinary savings are affected by it, then you cannot rely on a system of national supervision.
translation.zh: 如果次代产品可以经过多次转手 跨越国界， 最终流通到冰岛的银行 或是英国其他地区， 并且影响到普通民众的存款储蓄的话， 那么一个国家性的监管机构就是不值得信赖的。