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JAN 30, 2009 2:00am ET

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Genworth: Thrift Deal is On

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Genworth Financial, a Richmond, Va., insurer seeking to qualify for government capital by acquiring a troubled Minneapolis thrift, said Thursday that the deal is still on.

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Interpreting the $25B Mortgage Settlement
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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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