Word: problems
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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...
Germans standing in line to pay for groceries at supermarkets this week could be in for a nasty - and embarrassing - surprise. Many of their bank cards will be rejected at the register, but not because there isn't enough money in their accounts. The problem is with a faulty microchip in the cards that can't recognize the year...
Although homegrown terrorism is not a widespread problem, the report's authors warn that antiterrorism policies that alienate American Muslim communities may increase the threat. "Our research suggests that initiatives that treat Muslim-Americans as part of the solution to this problem are far more likely to be successful," said David Schanzer, director of Duke University's Triangle Center on Terrorism and Homeland Security, in a statement...
...cases involving American Muslims, fears of growing radicalization in the American Muslim community may be greatly exaggerated, according to a new study. Researchers at Duke University and the University of North Carolina at Chapel Hill say that while homegrown Islamic terrorism is a serious issue, it remains a limited problem. (See the top 10 religion stories...
...problem doesn't appear to be limited to Denmark, either. In neighboring Sweden, which has a Somali population of about 15,000, authorities say al-Shabab is recruiting Somalis to attend militant training camps in their homeland. Patrik Peter, a spokesman for the Säpo security police force, says about 20 men have left Sweden for Somalia in recent years, "a handful of which were found dead after acts of violence." (Read a brief history of al-Shabab...