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Flagstar to Fast-Track Capital Move; Stock Rises

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Shares of Flagstar Bancorp soared Friday after the company announced that it would bypass shareholder approval for a placement of private capital that hinges on ...

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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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