Word: floods
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...biggest problem will likely be a flood of inventory hitting the market from rising foreclosures, says Bob Curran, a managing director at Fitch Ratings. With a mountain of specialized adjustable-rate mortgages, known as option ARMs and certain Alt-A mortgages, slated to reset over the next 12 to 18 months and unemployment projected to hit 10.5% this year, the number of homeowners defaulting on their mortgages is expected to surge. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company...
...case, didn't seem to be the problem. In fact, that system functioned exactly as it was meant to - indeed, perhaps too well. It's clear now that there were multiple signs in recent months that Abdulmutallab was a potential risk, but they were simply lost in the unmanageable flood of information the U.S. intelligence and security agencies are designed to produce. Obama himself nodded toward this problem after meeting with security officials this week. (See why Obama was angry with the intelligence community...
...role in sustaining early Chinese civilization, has an iconic role in China, and a threat to it will draw attention the country's water woes in a way that few other Chinese rivers can. As hundreds of workers race to prevent its already tainted waters from absorbing a new flood of befouling chemicals, it serves as a painful reminder of how imperiled by pollution this society has become.- With reporting by Jessie Jiang / Beijing...
...Mixed Blessings When China began its global investment push in the early part of this century, the flood of new money was welcomed, particularly in those parts of Asia, Africa and Latin America that felt abandoned by the West. China's promise not to politicize aid and investment by attaching pesky conditions like improved human rights pleased many governments. Between 2003 and 2008, Chinese direct investment overseas skyrocketed - rising from $75 million to $5.5 billion in Africa, 1 billion to $3.7 billion in Latin America and jumping from $1.5 billion to $43.5 billion in Asia. The People's Republic...
Convincing more than 20 passersby to call congressmen, the half-dozen volunteers represented the Students Against Stupak, a subsidiary of campus organization Students for Choice. They handed out free condoms and coupons to J.P. Licks as incentives to boost what rally organizers said was a national effort to flood representatives with calls to kill the amendment to the House Health Care bill...