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Obscure Provision In Reg Reform May Have Big Impact

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A little-noticed provision tucked into regulatory reform legislation by the Treasury is causing a furor among large institutions, which say it would effectively ban all derivative transactions ...

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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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