There is little doubt that underwater mortgages – those that are worth less than the current value of the home they are attached to – are a serious problem in the United States.
This latest political headache comes just weeks before President Barack Obama is scheduled to visit Berlin and hold talks with Merkel. Even top-level ministers in the German coalition government are speaking out against what they call a return to Soviet-era surveillance practices.
The Guardian, a U.K.-based news source, broke the original story on Project PRISM and, later, published an extensive interview with Snowden.
In its disclosure, the source showed that the Obama administration has continued some of the shadiest Bush administration policies as the War on Terror has evolved in the wake of the Afghanistan and Iraq wars.
According to Die Zeit, a German-language newspaper, the investigation will focus on the balance sheets of up to 140 banks throughout the eurozone, especially those in France, Italy and Spain.
According to Reuters, the organization released its long-promised guidelines on for emergency re-capitalization of a systemically important bank.
Economists are calling it a correction, critics are calling it a disaster and Japanese government officials are calling it a transitory effect of so-called “Abenomics,” a fiscal and monetary methodology that mimics many of the efforts undertaken by the U.S. government and the Federal Reserve.
Will this industry rejection imperil the future of Obamacare?