The FBI is warning that al Qaeda may be preparing to offer adjustable-rate mortgages based on the bubble-inflated value of the homes of borrowers unable to repay them, leading to upwards of $1.3 trillion in potentially non-recoupable losses, according to an intelligence report distributed to law enforcement authorities across the country this morning. The alert said al Qaeda "hoped to disrupt the U.S. economy and has been planning the attack for the past five years."

Exclusive: FBI: Al Qaeda May Strike U.S. Shopping Malls in LA, Chicago [The Blotter]