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.
兩三年前，當(dāng)結(jié)構(gòu)性投資工具(SIV)在金融世界播撒毀滅的種子時(shí)，我瘋狂地想方設(shè)法，力圖向非金融業(yè)人士解釋這些工具的運(yùn)作原理。我把它們比喻成車庫(kù)或地窖。
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