Word: resettings
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...same time, the industry is bracing for an avalanche of specialized adjustable-rate mortgages, known as option ARMs, as well as certain alt-A mortgages, to reset over the next 12 to 15 months. At least $60 billion in option ARMs will reset in 2010, and an additional $64 billion will do so in 2011, according to First American CoreLogic. Experts say this will likely trigger another round of mortgage defaults and foreclosures in the second half of 2010 and cause home prices to fall another 5% to 10% this year before the market bounces back...
...Obama's aides hope that the passage of health care reform will allow Democrats to reset the debate, away from internal party anxiety and dysfunction. Benenson and others in the White House have mapped out a strategy through November, one that they are betting will put Republicans on the defensive over such issues as reforming Wall Street and money in politics. "Remember, elections are about choices," Benenson says, offering the classic election-year battle cry. "There is a lot of action that is going to happen pretty quickly here that is going to create clear contrast...
...inside the Russian government, the trend was going in the opposite direction. Medvedev and other liberals still felt trust for Obama and seemed ready to meet him halfway. But conservatives - mainly old-school apparatchiks, security chiefs and former KGB officers like Putin - began to express their doubts about the reset in relations. "It's been frustrating," the U.S. senior official tells TIME on condition of anonymity. "We came in with an aggressive reset mentality, and it was not necessarily shared by everyone in the Russian government. The Russians are overwhelmed by all the things we want to do tomorrow...
...Obama can be trusted," he tells TIME. "But that doesn't mean this opinion is shared at every level, especially the levels where the implementation of their agreements is borne out." This reality - the disconnect between what Medvedev pledges and what Russia does - has eroded the spirit behind the reset strategy as well as its practical objectives. (See pictures of Russia celebrating Victory...
...escalations point to the conservative camp's main problem with the U.S.: a lack of trust. "There are people at the top who see Obama as just a temporary man who will soon be replaced by another," Markov tells TIME. "There are people at the top who say this reset is all just a trick, that if we go along with it, they will begin pushing for maximum limitations on Russia's influence." Conservatives also want something in return, he says. "What Russia wants is to be recognized as a great power in the region, a power that defends...