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Nation's Banks Rebound to Profit

American Banker  |  Wednesday, May 27, 2009

Texas institutions fared better than the nation as a whole, producing a collected $277 million in net income in the first quarter, down 20% from last year's $345 million first-quarter profit...

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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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