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OCT 23, 2009 6:14pm ET

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3Q Earnings

Georgia Bank Sees Loan Trouble Peaking

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Though United Community Banks continued to suffer worse-than-expected loan losses in the third quarter, it offered an optimistic outlook on a conference call Friday.

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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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