Many homeowners are now running into trouble with their mortgages because they didn't understand what they were getting themselves into when they signed up for artificially low payments with teaser rates. Then the payments exploded upward and now they're facing foreclosure. Similarly, free agent catcher Jason Varitek has cost himself millions of dollars because he didn't understand Major League Baseball's arbitration process.Varitek served as the Red Sox catcher from 1998 through 2008 but at age 36, his numbers have been in decline for the last two years. At the end of the season, the Red Sox offered him arbitration -- a process by which Varitek and the team would exchange proposed salaries and an independent arbitrator would pick which number was most appropriate. Because of MLB rules, the least Varitek could have made was $10 million for the season.
Varitek rejected the offer of arbitration and became a free agent and because he is a Type-A free agent, any team that signs him will have to surrender a first round draft pick to the Red Sox.
Is the most-storied franchise in baseball history for sale? The New York Times 
Google's plan for netbook PCs moves higher into the clouds
Closing Bell: Stock bulls and dollar death (DDRX,GMCR, PEET, SBUX, EBAY, CI, TECD)
So long peak oil, here comes peak uranium
