Proinvestiment

Bank of America proved no match for the ongoing recession as the nation's biggest bank reported a steep loss Friday.
With Americans continuing to default on their credit cards and mortgages, the company said it lost $2.2 billion in the third quarter, which included several charges related to the government's move to rescue the firm over the past year....

When George Bush took office at the beginning of 2001, the federal government was running a substantial budget surplus and projected rising surpluses "as far as the eye could see." Now, the United States is facing massive current deficits -- as a share...

As complaints mount about President Obama's foreclosure prevention program, the administration is ratcheting up the pressure on mortgage servicers.
Financial executives will meet with Treasury Department and administration housing officials on July 28 to discuss how the loan modification and refinancing plan has been implemented. The administration plans to grill servicers that have done few modifications...

Stocks tumbled Tuesday morning, as jittery investors dumped shares ahead of the start of the G8 summit and the second-quarter corporate reporting period.
The Dow Jones industrial average (INDU) lost 80 points, or 1% roughly 90 minutes into the session. The S&P 500 (SPX) index lost 8 points, or 0.9% and the Nasdaq (COMP) fell 18 points, or 1%....