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NewAlliance to Record Loss

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NewAlliance Bancshares Inc. in New Haven, Conn., said Monday that it would record a pretax loss of $28.3 million spread over two quarters to restructure its balance sheet.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
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