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8:21 pm
Tue November 19, 2013

IL pensions getting $100 million from JP Morgan

Illinois' pension funds will be getting a $100 million in restitution from JP Morgan Chase.  The bank is settling with the federal government and several states over its actions before the Great Recession of 2008.  Illinois Attorney General Lisa Madigan says JP Morgan duped the state's pension systems and other clients into investing in bad mortgages. When the housing market crashed, so did the rest of the economy.

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