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Bank of New York Mellon Chief: U.S. Should Not Own the GSEs

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Robert Kelly said the government should end its ownership of Fannie Mae and Freddie Mac and called for increased resolution authority to dismantle large banks.

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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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