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NOV 30, 2007 2:00am ET

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Press release announcing the deal

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Farm Belt Pulls NAB Back to U.S.

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Seven years after selling its U.S. banking arm to one Dutch company, National Australia Bank Ltd. is returning with what looks like a page from another Dutch lender's playbook.

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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
A source of relief for both banks and homeowners that could help the housing market and economy recover
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