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$2.9B Deal Would Fuel Race into China

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Bank of China and Temasek Holdings may invest as much as 20 billion yuan ($2.9B) to build a rural banking business in China, said two people with knowledge of the matter.

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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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