2008's Financial Winner's and Losers

Academic Woes

The losses on Wall Street have reverberated throughout academia and the Ivy League. Harvard and Yale, both known for having large, well invested endowments, have both suffered in this downturn.

Yale's endowment lost a fourth of its value in the four-month period ending in October. Harvard lost 22 percent since the end of June. Neither is expected to see a quick turnaround.

Battered Banks

Nearly two dozen banks have failed this year, causing stress and panic for some and losses for those who had saved more than the FDIC limits. The biggest names to go under in 2008: IndyMac, Washington Mutual, Wachovia and Countrywide. The Main Streets of America look very different than a year ago, as banks start to take down one name and slowly put up the new parent company's name and logo.

Wal-Mart a Winner, but What About Next Year?

It has been a pretty miserable year for retailers, as laid-off shoppers, or those who just fear losing their jobs, held on to their wallets a little bit tighter. But one retailer -- the world's largest -- appears to be profiting off the recession.

Wal-Mart posted a 10 percent increase in third-quarter profits. Some of that is attributed to bargain hunters and some to shoppers taking advantage of early Christmas sales. But not all is rosy at the retailer: Predictions for next year are gloomy, with the economy even hitting Wal-Mart stores around the world.