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Simon Johnson: U.S. Needs A Meaningful Mortgage Settlement

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Photo copies of robo-signed signatures taken from documents are seen at the office of the Registrar of Deeds John O'Brien, in Salem, Mass., Monday, July 18, 2011. O'Brien said an investigation of more than 710,000 documents in his office found that 25,187 homeowners in the county, or about 3.5 percent, have paperwork on file with signatures he believes are fraudulent. Robo-signers have said in sworn depositions that they signed thousands of documents at such speed that they didn't have time to r | AP

Discussions around this weekend’s International Monetary Fund annual meetings in Washington made it clear that the standard macroeconomic toolkit has little more to offer the U.S. It’s time to try something else.

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