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MAR 1, 2010 4:14pm ET

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Going forward, Congress and the administration should focus on the vital results that reform must ensure: liquidity and stability for long-term, fixed-rate, sustainable mortgages.

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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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