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SEP 1, 2010 2:32pm ET

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Connecticut Attorney General Investigates NewAlliance Deal

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The Connecticut attorney general said First Niagara's proposed acquisition of NewAlliance "raises significant and far-reaching legal and public policy issues."

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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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