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SEP 7, 2010 3:21pm ET

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Part One of the Series: Banks Use Election as Payback for Reg Reform
SEPTEMBER 7, 2010
Part Three of the Series: One Election Outcome's a Sure Thing: A New Look for the Senate Banking Committee
SEPTEMBER 9, 2010

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Election 2010

Kanjorski Race May Prove Critical for Banks, Financial Services Committee

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In the second part of a series exploring how the mid-term elections could affect the banking industry, we examine the fate of the No. 2 Democrat on the House Financial Services Committee, whose potential loss could shake up leadership on the panel.

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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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