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Capital Goal Is Hit, and Then Some

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Towne Bank in Portsmouth, Va., which set out late last month to raise $25 million from shareholders and customers, has had no problem raising capital this year.

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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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