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Huntsman Gets $1.7B Settlement from Banks

American Banker  |  Tuesday, June 23, 2009

Huntsman Corp., based in Salt Lake City but operated from suburban Houston, said Tuesday that Credit Suisse and Deutsche Bank agreed to pay a $1.7 billion settlement over its accusation they schemed to scuttle a $6.5 billion buyout of the chemicals maker last year...

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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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