bank of america and citigrp house said -- poted profits, defying forecastf a loss. however, that w on achieved after e sale oauch-prized un. and deepigging into the numbers revealed mounting sses in the credit card and busine loan departments our financial correspondent ws outhe stakes. >> there is a growi divide in the wod of banki. citigroup and bankamerica,ith their heavy reliance on indidual customers, face mounting bad debts a more and more people default on their loan the likesf goldman schs and j.p. morganmake their money from trading investmenton the maet, the bm timesf financial alchemy are back. >> is the ecstasy d the agony. investors banks are running a couple of clinders well. not all ofhem yet, but most of them firin well. whereas, the isss for the commercial banksany of the lendg institions, those are muchore lg term, mning they have made loans and now they are becoming linquent at increasing rate >>there is another key differen between the haves and e havnots in the new world of banking. j.p. morgan and goldman received $35 biion in aid from e overnm

>>and nkf americ and citigrp posted profi ithe seconduaer, thgh analysts say the resultask continuing prms ithe fiial ctor. >>> anhe recession has tten yown, pha l up will help anymous donohapaido p up thoands of bill board acro the cntry with messages, intend to li ople irits.messag like "recessi 101, inresting fact aut recessions -they end." >>> re in neyo, presidt ama hagive his mos comprensivspee on th subjof race since s ecti. speang tgatherg for the 10anniveary of tnaac the president said t paiof scmiti still existsn america. he won tsay at whihe gont has duty toromote equality, didualmu take responsilityor the lis. >>e need aew mind a w set attitud. because on t most durle and destrucveegacsf discriminaon is e way we' inrnalized aen o litahow soany inurmuni haveomto expt sotle. fr the world arom thselves. wee gotoay to our childrenye if ye afrin-american, the are growing up arime andgs gher. yes,f u live i pr igorodu wi face challenghat mebo in wealthsurb ds not have to . but th's not are rto g d grad. that's neason to cut clas 's not a reason tgive up on your educandp out ofch

. >> susie: from gener electric to bank of america to citigrp, some of the nati's biggest blue chips posted rnings today. results are do, but still better than expected an update in stocks in t news. >> paul: tonight'sarket nitor guest thinks stimulus programs around the obe are working. he'sary motyl chief investment ficer at templeton global equity >> sus: just a few years ago, everyone w jumping on the ethanol bandwagon, but gasole prices dropped and cdit costs soared. now, ethanol is being back- burner. >> paul: i'm pl kangas. >> sie: and i'm susie gharib. this is "nightly busess report" for iday, july 17. "nightly business port" is madpossible by: this program wasade possible by contributions to yourbs station fr viewers like you. thank you. susie: good evening, everyo. the economy is impreive again. that'shat president obama's top economic adver lawrence >>> go higher in the months ahead but says thadoesn't mean the stimulus effort has failed. instead, he bieves t policy help saved the economy. >>. >> if were at the brinkf castrophe at the beginning of the year,e've walked some

citigrp of the grt prophets, moan, great profits, even bankamerica,reat profits nd where is the rest of the country? holding the bag wh nothing. >> i risen defense of scrooge. >> let him finish. >> i respect the populism of my iends here and may even support a mark shieldsoldman sachs t, however -- d the injuice is palpabl however, the reasonwe have gh unemploent and the reason the country is in a rut and our rrency ishaking is because last year we had a collapse of our nancial syst. th the republicaand docratic administratn pumped ndreds of billio in our money into that system, recognizing that uess it is saved, we all go down. so the injusticeis absutely there d perhaps whatou want to do is taxed away the profi with apecialax. however, weant to see health and goldman and citigroup and bank of america. >> absolutely. >> because if we do not havet. >> you should have let me go first, charles, because having me make that point would be much re powerful. >> we will be a judge of that. >>erhaps less articulate. >> maybe. no other wayo do this. as mu ai hate toadmit it, if we don' have h