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MAR 24, 2008 1:00am ET

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CapitalSource CEO Silent on TierOne Deal Status
FEBRUARY 22, 2008
TierOne Press Release

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TierOne Terminates Deal with CapitalSource

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The deal had been on shaky ground for months, as both companies' share prices plummeted and TierOne's credit quality weakened.

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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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