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Deal Dies, New Frontier Faces Worst

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New Frontier Bancorp had hoped to be announcing its rescue last week. Instead, its hometown of Greeley, Colo., was abuzz over the possibility the company might fail, after a $30 million deal to bolster it fell through.

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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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