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Thursday's Bank Stock Wrap

Comments by Citi Chief Help Further Rally

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Banking stocks rose for the sixth straight day as the head of Citigroup said the banking giant was on its way to "sustained profitability."

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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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