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JUL 29, 2008 1:00am ET

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2Q Earnings

Profit Down at Superior of Alabama

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Superior Bancorp in Birmingham, Ala., said Monday that its second-quarter earnings fell 58% from a year earlier, to $841,000.

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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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