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Job One in Cards for JPM-Wamu: Portfolio Remix

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JPMorgan Chase's strength in credit cards and its experience with integration make Wamu's distribution platform a rich opportunity, but problems in the portfolio ...

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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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