Deflation: If forecasts are correct, several factors could present a dangerous combination the Fed might not allow to brew for very long.
Bank of America's woes are so large that it could take a page from the asbestos settlements trusts of more than a decade ago. Bank of America faces a raft of lawsuits claiming it knowingly sold them securities backed by shoddy home loans.
Faulty mortgage loans were a major contributor to the recession and now a US regulator is suing 17 big banks for their role in those faulty loans.
Government lawsuit claims 17 banks, including Bank of America, Citigroup, and JP Morgan, misrepresented the value of $196 billion worth of mortgage-backed securities when it sold them to Fannie Mae and Freddie Mac.
Once considered a small manageable problem, Europe's debt crisis has grown into a major international crisis. Europe will have to resolve the Greek problem that sparked the crisis.
Burt Reynolds hasn't paid the mortgage on his five-bedroom mansion for a year. Burt Reynolds owes $1.2 million, say creditors in a lawsuit.
Record-low interest rates on mortgages are one outcome of debt-ceiling deal. But they are just one piece of recovery for the housing market, which is beset by falling prices and high jobless rates.
US economy added just 18,000 jobs in June, a sign the recovery is dragging. The unemployment rate rose from 9.1 to 9.2 percent. Still, most economists see a pickup in second half of 2011.
Natural gas shale companies' financial statements don't add up, says Dallas Fed advisory member. Companies have high leverage, little cash, and very low estimates for natural gas extraction, she says.