Weekend of 9-11

1. Dan Ariely, an economist whose work in the behavioral area is absolutely fascinating has this post on the role of financilal advisors which is a must read. His points are that questions about  money and risk are incredibly hard, that people’s statements depend on how questions about these things are framed and that financial advisors are not good at advising people about what they need for retirement.

2. A proposal for QE-3,  building on what the Swiss appear to have done to stabilize the Franc, here.

3. HERE is a story about a  sub-prime mortgage  bond which gets a AAA rating. In this day and age! This is a diversified pool of mortgages and didn’t correlated mortgages default already????