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North Carolina Banks Have a Deal

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Carolina Trust Bank in Lincolntown, N.C., has a deal to buy Carolina Commerce Bank in Gastonia, N.C., for $5.5 million in stock.

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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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