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4Q EARNINGS

Assets Increase at Three Key Firms, But Caution Persists

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With investors returning slowly but surely to the markets, assets rose in the fourth quarter at three prominent financial firms that manage wealth.

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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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