Indices closed in red territory on Monday. Bank of America, Walt Disney and Hewlett-Packard stood out among Dow decliners. Stocks took a dive amid political gridlock. The Congressional super committee, charged with coming up with $1.2 trillion in maneuvers, failed to find common ground.
On October 26, 2011, President Obama announced a plan that seeks to help college graduates pay back their federal student loans. The plan is an executive order and does not require approval by Congress. It is scheduled to take effect beginning in 2012. Read more in this Financial Tip.