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Illinois First in Failed Banks for '09

American Banker  |  Tuesday, July 7, 2009

Illinois leads the nation in bank failures this year, though regulators say that is primarily because it has more banks than any other state...

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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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