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IndyMac's Buyer Does Another Deal with FDIC

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Seven failed banks holding a combined $14 billion in assets failed Friday in what was yet another busy night for the Federal Deposit Insurance Corp.

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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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