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The graph tell the story, in early 2007 there were close to 4 million homes under water, in early 2008 closer to 8 million homes and in early 2009 closer to 16 million homes under water, close to doubling the number of homes under water. This is why more of the morgage securities become bad assets with each passing year, as their underlying assets the mortgages become high risk for default. During the third quarter the number of homeowners under water, or owing more than their homes were worth, were 11.8 million, and by the end of 2008, 13.6 million, according to Moody's Economy.com They are growing at close to 1.8 million every quarter, or at the rate of over 7 million a year. Which at this rate would reach 21 million homes under water by early 2010, if one assumed that government help only worked to offset the impact of further deterioration of housing prices, by lowering payments for some homeowners. A new housing rescue plan was announced March 4, 2009. This will supplement the $75 billion announced earlier. This plan announced March 4, 2009, is expected by the Obama administration to cover 9 million homeowners. Borrowers who face severe financial hardship that may cause them to lose their homes, are required under this plan to sign affidavits attesting to this. They will in then see their loans modified, payment periods lengthened, and interest rates dropped to as low as 2%, to bring the monthly payment down to 31% of income, the number that experts say is appropriate for sustainable payments. Only first lien mortgages, and homeowners who live in these homes and not homeowners who use them as investments, will qualify. The outstanding principal balance cannot be over $729,750. As incentives loan-servicing companies will get upto $3500 from the government, and the government will also match a portion of the ender's costs dollar for dollar. Homeowners get $5000 in government money to reduce their outstanding balances, as an incentive to them to stay current on these modified mortgages. The administration plans to announce plans to those holding second mortgages on their homes, who have difficulty modifying them. The other component of the plan is for Fannie Mae and Freddie Mac to refinance loans for borrowers who are under water, owing more than their homes are worth, even if they are wealthy enough to afford current payments. There is no income ceiling for this part of the plan. And these mortgages have to be held or guaranteed by Fannie Mae or Freddie Mac, with homeowners not owing more than 105% of the current value of their homes. ...

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A US Supreme Court 6-3 ruling that president Biden calls one that "contradicts common sense and the Constitution, which should trouble us all." The 6 conservative Justices and 3 liberal Justices vote along party lines to strike down a century old New York law with restrictions on the use of concealed weapons or weapons carried openly. Appointments to the Supreme Court have only meant taking the party disagreements into the Court- Mr. Trump appointed 3 Justices Gorsuch, Kavanaugh and Brett who joined Thomas, Alito and Roberts, appointed by the 2 Bush presidents, for this decision. The three on the Democratic side Breyer appointed by Clinton, Sotomayor, Kagan appointed by Obama. Today the presidents who made these appointments Clinton, Obama, Bush and Trump are all seen in a different light with their thinking and ideas not drawing support from all corners of America for a common sense approach to the Constitution. Following the pandemic and the war in Europe there is a shift in thinking all over America and the world, and the old politics simply don't fit in with this. Biden calls this a decision that "contradicts both common sense and the Constitution."  A group of Senators from both major parties are coming up with a common sense approach in a gun control bill in the US Senate. ...

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Julian Tang, a clinical virologist and professor at Leicester University looks at the risks of coronavirus variants. Variants from South Africa, B.1.1.7 variant and a variant from Brazil have complicated efforts of the vaccination drive in Britain, US and Europe. 

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This report by David Sanger in the NYT cites insiders in the Obama administration suggesting that the Saudis never really considered the peace talks in the region organized by Secretary of State Kerry as a serious effort with the escalation in the bombing by Russia, and other events including Iran's two ballistic missile tests. Turkey was drawn into the conflict with Russian bombing of ethnic Turkish groups at the border with Syria. By ignoring these events affecting Turkey, Saudi Arabia and other countries, the Obama administration appeared to be calling for a peace effort that seemed to have little prospect of succeeding. As Trofimov suggests in a separate report in the WSJ the Saudis were more focussed on winning domestic support from conservative Sunnis, seeing the Obama administration as ineffective on the issue of refugees from Syria and the conditions for the civilian population.

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The shift of offshore manufacturing jobs from China to Mexico in 2014-2015.

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US president Biden calls on intelligence agencies in the US to complete an inquiry into the origins of the coronavirus in 90 days. Biden said he would publish the results of the 90 day inquiry. During the last months of the Trump administration the idea of the virus originating in a Wuhan lab was supported by parts of the US intelligence community. 

The WSJ reports show the intelligence community in the US saying that 3 members of a key Wuhan lab in China were taken to hospital with covid like symptoms before the first case of covid patient was recorded in Wuhan in early December 2019.

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The Dutch model for counterinsurgency which intertwines the civilian efforts with aid workers working inside the military, and military work focussing on security for the people so that economic development projects can go on, is an inspiration for the US effort. It has also reduced casualties for the Dutch. Only 19 deaths have occurred for the Dutch for 2000 personnel employed since they deployed in Uruzgan province in March 2006, where 350,000 Afghans live, according to icasualties.org. Sec of state Hillary Clinton describes this 3 D effort of defense, diplomacy, and development, as the model for her own efforts and that of the Obama administration. Dutch soldiers are ingrained in their training for this mission that their main work in Afghainstan will be economic development. The aid workers work closely with the soldiers and the commander Col. Gert-Jan Koolj says over time the focus has been on pure development. In fact diplomats from the Dutch foreigh ministry help to command the Dutch team in Uruzgan. One problem Clinton is facing is the shortage of civilian personnel to work in provincial reconstruction teams. About 500-600 more civilians are needed to complement the additional 21,000 troops that are to be added in 2009. ...

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Biden says at a press conference in Tokyo that US commitment to defend Taiwan is even "stronger" after the invasion of Ukraine. 

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The redesigning of suburban office space to fit remote work and hybrid work needs in the US.

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Us promises of aid to India during the current coronavirus outbreak. Anthony Blinken, US Secretary of State said - "Our hearts go out to the Indian people in the midst of the Covid outbreak. We are working closely with our partners in the Indian government, and we will deploy additional support to the people of India and India's health care heroes."

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US Secretary of State Antony Blinken's remarks to the Australian foreign minister that the US will "not leave Australia alone on the field, or I should say alone on the pitch in the face of economic coercion from China." Trade relations between China and Australia are being reduced as Australia takes on a new role in the Indo-Pacific region.

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US health officials remain on high alert for one unfinished task of the fight against coronavirus- the unvaccinated people who could be a breeding ground for new variants of coronavirus. There is the danger that a new mutation of the virus in unvaccinated people could be more resistant to vaccines. This means everyone needs to get vaccinated, and one dose should be followed quickly with the second dose. One dose only has limited protection with strong level of antibodies resulting only after the second dose. In the US southern states such as Arkansas and Oklahoma lag behind in vaccination, and are seeing a large increase in cases.

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Oswald Grubel, CEO of Swiss bank UBS, resigned on Sept. 14, 2011, after the loss of $2.3 billion in irregular trades made at its London trading desk.