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Berkshire: Won't Raise CNB Bid

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Berkshire Hills Bancorp of Pittsfield, Mass., said Monday that it would not increase its offer to buy CNB Financial Corp., even if that means losing the deal.

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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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