The problem is that someone loaned money to people who do not understand how interest compounds.
For those who were doing their homework, some of them are enjoying the happy fun of having an ARM mortguage that adjusted DOWN, because that is where the market is going.
Your classic, we have good news and information - the good news is your ARM is going down. The Information is that this is occurring because of the growing problem with bad loans, not all of which have been sorted out as actual toxic waste, because, well Gosh Kiddies, these are not the Sub Prime Loans....
So as the glorious economic forgoing goes forward.... well... it will be next year some day....