Bank of America (BAC) has come in for quite a pounding this year as the mortgage crisis fallout continues. There is still terrible uncertainty about the stability of the bank's asset base after it acquired the troubled mortgage giant Countrywide. Bank of America bought Countrywide at the height of the financial crisis, and industry specialists still don't have a clear picture of the liabilities that came with the purchase.
Reviewing this month's theme in the upcoming China Stock Digest reminds me vividly of the financial tsunami now facing the world. The huge changes spawned by China's rising economic power have only just begun to take shape.
Reading about China's auto industry brings to mind an issue that has nagged the mainland's business leaders and mandarins for years. Why isn't China more like Japan by now?
The combination of the market’s sell off in the last four weeks along with the growing pessimism on the part of investors has understandably caused many to become discouraged. Even if that is the case, though, investors might want to resist the temptation to throw their hands up in disgust and stop looking for sound