Rising Rates to Worsen Subprime Mess

The Wall Street Journal, Ruth Simon, 24 November 2007The subprime mortgage crisis is poised to get much worse.Next year, interest rates are set to rise -- or "reset" -- on $362 billion worth of adjustable-rate subprime mortgages, according to data calculated by Bank of America Corp.While many accounts portray resetting rates as the big factor behind the surge in home-loan defaults and