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Mergers & Acquisitions - Midyear

American Banker | August 12, 2009

Merger and acquisition activity has been almost nonexistent, but that is not to say it has been uninteresting. A paltry $822 million of deals was announced in the first half, versus $7 billion the year before. Though the pace is expected to pick up — after all, it could not get any slower, industry participants say — obstacles that made recent deal volume by far the weakest on record are unlikely to go away soon.

 

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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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