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High inflation and soaring real estate prices have thrown thousands of residents into dire straits.

J. P. Morgan, the U.S. financier who founded the J.P. Morgan & Co. bank in 1871, bailed out the government and financial markets not once, but twice.

The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating.

As unlikely as such a scenario might seem, it has actually happened in the past.

More than a dozen traders have quit Goldman Sachs Group Inc's (GS.N) North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up.

Some major bond fund managers are asking their institutional clients to consider waiving strict requirements that might force mass selling of Treasury bonds if the United States loses its AAA rating.

Fortune Brands Inc (FO.N) announced a tender offer on Thursday for up to $1 billion of debt using funds from the company's planned sale of its Acushnet golf business.

Fear the United States will lose its AAA credit rating or even default on its debt is driving foreigners away from U.S. assets, and the dollar is taking the biggest hit.

At the once-feared commodity trading arms of Goldman Sachs and Morgan Stanley, the pressure to do better in the second half of this year has never been more intense.

The earnings season is when a large number of publicly traded companies release their quarterly earnings reports. The earnings season is so far topping Street views at a pace above typical quarters.

Morgan Stanley is set to report a second-quarter loss on Thursday, as costs caused by a leftover item from the financial crisis compound the effects of a weak trading environment and stubbornly high expenses.

Goldman Sachs' anemic second-quarter results on Tuesday rattled investors and cast a pall on its reputation as Wall Street's trading powerhouse.

Goldman Sachs Group Inc rattled investors with earnings that fell far short of expectations because of sharp declines in bond trading revenue, long a key source of profits for the investment bank.

Goldman Sachs Group Inc rattled investors with earnings that fell far short of analysts' estimates because of sharp declines in trading revenue.

Bank of America Corp reported its biggest-ever quarterly loss -- $8.8 billion -- as low interest rates squeezed lending margins at the largest U.S. bank.

Goldman Sachs Group Inc's profit fell short of lowered market expectations as fixed income trading revenue dropped sharply.

Bank of America Corp reported an $8.8 billion second-quarter loss, its worst ever, and posted a drop in lending margins as low interest rates weigh on the largest U.S. bank.

When Goldman Sachs Group Inc reports second-quarter earnings on Tuesday, investors will be keen to hear how the largest U.S. investment bank plans to make up for fast-fading fixed-income trading revenue.

For Bank of America Corp, the mortgage issues never seem to end, which is the chief worry for investors and analysts.

JPMorgan Chase & Co is putting on a kinder, gentler face as it overhauls a unit that negotiates with borrowers whose homes are headed into foreclosure.

Citigroup Inc's second-quarter profit jumped 24 percent as the bank lost less money than expected on bad U.S. loans.

Bank of America (BOA) shares dropped below $10 for the first time in two years on Friday.

Citigroup Inc's second-quarter profit jumped 24 percent as the bank lost less money than expected on bad U.S. loans.

Citigroup Inc posted higher-than-expected net income in the second quarter, helped by falling credit losses.

Citigroup Inc's second-quarter profit jumped 24 percent as the bank lost less money than expected on bad U.S. loans.

When Citigroup Inc reports second-quarter results on Friday, investors will scrutinize its loan book for signs that the bank is on a sustainable path to profit growth.

UBS AG won review by a Manhattan federal judge of $2.6 billion of lawsuits brought by the trustee liquidating Bernard Madoff's firm, at least the fourth time a bank has obtained access to that court.

A New York state appeals court revived Ambac Financial Group Inc's $1 billion lawsuit against JPMorgan Chase & Co over an investment vehicle that in 2007 and 2008 suffered heavy losses from toxic subprime debt.

Stocks were little changed on Thursday as Federal Reserve Chairman Ben Bernanke delivered congressional testimony for the second day and worries about hitting the U.S. debt ceiling dogged investors.