Morgan Stanley (NYSE: MS), the nation's second-largest investment bank followed the trend of its competitors failing to deliver positive results in the 2Q.

Goldman Sachs (NYSE: GS) is shining. The nation's largest investment bank is cheering this week, following the announcement of its 2Q results. The company posted quite impressive numbers and silenced many Wall street analysts.

Shares of New York Stock Exchange listed Friedman Billings and Ramsey (NYSE:FBR) have lost 22% of their value in less than 3 trading sessions. Countrywide (NYSE:CFC) and Thornburg Mortgage (NYSE:TMA) share prices are also underwater for the week.

I know that there are some really rude fraudsters out there just waiting for a chance to swindle you. But this really hit home when I heard that a stockbroker had deceived even his own grandmother. I just can imagine what a childhood he must have had if he now rips-off his own relative.