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JUL 11, 2008 1:00am ET

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Sandy Spring's press release on loan loss provisions
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Sandy Spring's Provision Plan

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Sandy Spring in Olney, Md., has said it will report a higher-than-expected loan-loss provision for the second quarter when it reports earnings this month.

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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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