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Exec in Stanford Fraud Case Pleads Not Guilty

American Banker  |  Thursday, May 14, 2009

The chief investment officer of Texas billionaire R. Allen Stanford's companies pleaded not guilty Thursday to charges stemming from the first indictment in the federal government's investigation of the troubled financial firm...

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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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