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Letter to the Editor: The Real Chief Risk Officer

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To the Editor:
Titles aside, when we begin to recognize that the defacto chief executive officer and the chief risk officer are, and ought to be, one and the same with concomitant authorities, then we will show that we "get it" and will be best positioned to identify desired standards.

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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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