Bank of America (NYSE:BAC) was convicted of civil fraud, but what does that mean for shareholders? In this segment from Thursday's episode of The Motley Fool's financials-focused show, Where the Money Is,  banking analysts Matt Koppenheffer and David Hanson discuss the day's headlines. Among the newsmakers they discuss are JPMorgan Chase (NYSE:JPM), Bernie Madoff, and Buffett's outlook on housing.

David Hanson owns shares of JPMorgan Chase. Matt Koppenheffer owns shares of Bank of America and JPMorgan Chase. The Motley Fool recommends Bank of America. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.