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New York Fed and Barclays Lacked 'Plan B'

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The Federal Reserve Bank of New York would have been forced to take over a $45B loan secured by plummeting assets of Lehman Brothers had Barclays' deal to buy Lehman's broker ...

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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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