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NOV 20, 2009 6:07pm ET

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Reform Heads Backward

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It was supposed to be the week the House Financial Services Committee passed a key part of regulatory reform and the Senate Banking Committee finally began moving forward ...

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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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