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...option adjustable-rate mortgage the next subprime disaster? For anyone who remembers that souring subprime loans kicked off the real estate meltdown, that's a scary thought. Recent analysis from Standard & Poor's (S&P) anticipates that a full 37.5% of such loans (dubbed option ARMs) that were written in 2007, at the height of lax lending, will eventually go bad. The kicker is that most option ARMs undergo payment spikes after five years, which means the brunt of the impact has yet to be felt. That will change in late 2010, delivering another blow to the fragile housing market...
...Since the discovery of penicillin, scientists have been looking at the same types of bugs and finding the same compounds, which is problematic because the rediscovery rate is so high,” Crawford said...
...refugees to new homes has been slow. Since 2006, the United Nations High Commissioner for Refugees (UNHCR) has resettled 749 Rohingya from the registered camp. Five hundred were relocated in 2009 and another 190 are pending departure for the United Kingdom, Canada, Australia and the U.S. It's a rate of departure that barely covers the population growth of 2.9% within the registered camp; right now, the system is simply paying off the human interest...
...Anthem Blue Cross story in California is far from unique. According to the Associated Press, Maine, Oregon and Kansas are among states where consumers buying individual policies on the open market may see double-digit rate increases in 2010. Sandy Praeger, the Kansas insurance commissioner and head of the managed-care committee of the National Association of Insurance Commissioners, said she agrees with others that Anthem Blue Cross is probably operating within the law in proposing its California rate hikes. "I thought the explanation made perfect sense," says Praeger. "In this job climate, if people are young and healthy, they...
Daveed Kapoor, 30, a healthy, self-employed resident of Los Angeles, is one of California's 700,000 individually insured Anthem Blue Cross customers. Since he bought his policy in 2005, he has seen his premiums rise dramatically. Just last year, his monthly rate jumped from $361 to $495, a 27% increase. Kapoor, who pays his premiums via automatic debit from his bank account, did not receive a notice about the 2009 hike and didn't realize it had happened until reviewing his bank statements several months later. This year's hike - to $665 - may be too much...