There are countless ways to wind up in the red, and many of them start with the best of intentions. Seemingly smart investments, luxury purchases you thought you could afford and once-in-a-lifetime vacation deals can all place you in the chokehold of compound interest.
in the red
Bank of America had a rough second quarter, winding up $9.1 billion in the red, mostly caused by the $8.5 billion settlement it had to pay out to 22 investment groups over mucked up securities. The bank has paid out $12.7 billion in settlements this year.