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For Tower, Amended Deal is Addition by Subtraction

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Tower Bancorp Inc. in Harrisburg, Pa., doesn't mind taking on the problem assets of First Chester County Corp., but it wants no part of its mortgage business.

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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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