In this segment 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 the latest legal headlines regarding S&P and Uncle Sam and how Bank of America's (NYSE:BAC) strategy failed but still raked in billions.

David Hanson owns shares of Goldman Sachs and JPMorgan Chase. Matt Koppenheffer owns shares of Goldman Sachs, Bank of America, and JPMorgan Chase. The Motley Fool recommends Bank of America, Goldman Sachs, and Moody's and owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.