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NOV 25, 2008 2:00am ET

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A Newcomer to May-Fail Lineup: Team of Kansas

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The $807 million-asset company warned investors in a SEC filing last week that if it does not raise capital quickly it might be seized by regulators.

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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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