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Column: Reform Mustn't Come at Innovation's Expense

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Microcredit lending, securitization markets and, yes, even structured finance and trading activities are examples of financial innovations that can be harnessed for good, or squandered in fear.

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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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