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IndyMac Buyers Pick Up Another Failed Bank

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Four failures late Friday cost the government an additional $1B. Among the closings, which brought the year's total to 20, was that of $3.6B-asset La Jolla Bank in La Jolla, Calif.

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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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