What Next? A "Catastrophe" Catastrophe?

Subprimes. CDO's. Credit-default swaps. Auction-rate bonds and preferreds. . . .

Gosh, it's no fun waiting for the next shoe to drop when you live in the apartment below a centipede.

What should wealth managers and their clients worry about next? Catastrophe bonds and other event-linked securities. See this warning from the Financial Industry Regulatory Authority.

Try to have a nice weekend anyway.