Several of Europe's biggest banks are reporting billion dollar losses today and yet, banks are handing out billions in bonuses and getting a lot of flack for it.
Fred Goodwin led the Royal Bank of Scotland when it nearly collapsed during the financial crisis in 2008. The queen has now taken away his title of knight, leaving him in some less-than-honorable company.
European leaders have agreed on the details of a new treaty that requires countries to balance their budgets and limit their deficits. It's a long-term solution to the continent's debt troubles.