A couple of years ago, when structured investment vehicles were sowing devastation in the financial world, I frantically searched for a way to explain to non-financiers how these entities worked. The analogy I resorted to was a garage or cellar.
两三年前，当结构性投资工具(SIV)在金融世界播撒毁灭的种子时，我疯狂地想方设法，力图向非金融业人士解释这些工具的运作原理。我把它们比喻成车库或地窖。
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