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BankUnited, After Provision, Has Negative Tier 1 Capital

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After adjusting its results to add $154 million to the provision for loan losses, BankUnited Financial said its thrift unit had negative capital levels at Dec. 31.

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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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