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Chiefs Say Fed Needs Oversight of Small Banks

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Fed Chairman Ben Bernanke offered a vigorous defense of his agency's oversight of holding companies and state banks, rejecting a Senate bill that would strip them of supervisory powers ...

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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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