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EXECUTIVE FORUM 2Q '09

Economic Outlook Brightens in a Hurry

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Financial executives have eased up on the direst of predictions, showing less pessimism about the economy and a mixed concern about the health of the overall system. But as perceptions shift, a lag time may occur in adjusting practices.

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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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