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Financials Up as Investors Gain Confidence on Fed's Discount Rate Increase

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"I think people are beginning to think rationally about what the Fed did" as they understand it's "not a precursor to an immediate set of rate increases," one analyst said.

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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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