The risk explanation 场景学习单

A thick product guide sits unopened beside a one-page diagram.

一本厚重的产品说明书没有打开，旁边放着一页图示。

CLIENT

Explain the risk without using the product name.

不要使用产品名称，直接解释风险。

ADVISER

Start with what has to go right: borrowers must keep paying.

先从必须顺利发生的条件讲起：借款人必须持续还款。

CLIENT

And what happens when enough of them stop?

如果足够多的人停止还款，会发生什么？

ADVISER

Cash arrives late, protection disappears, and the loss moves up the chain.

现金延迟流入，保护层消失，损失沿着结构向上传递。

The product name is added only after the causal chain is clear.

直到因果链被说清楚后，产品名称才被写上。