The bank JPMorgan Chase will pay Illinois' pension funds $100 million under a national settlement announced Tuesday. The payment is a result of the bank's misconduct leading up to the Great Recession.
Like a lot of investors in the last decade, Illinois' pension funds had a good chunk of change in mortgage-backed securities. Once the housing market collapsed and homeowners began defaulting, the value of those securities collapsed, too.
Attorney General Lisa Madigan beat her last opponent by more than a million votes. Her decision to run for re-election next year scared away most of the people who'd been eyeing her job. But at least one Republican is throwing his hat in the ring.
Former superintendent Walter Milton’s separation agreement with District 186 violated open meeting laws, according to an opinion by the state’s Attorney General. The previous school board decided to part ways with Milton during the winter before his contract was up. So, the members approved a severance plan worth over $175,000 and agreed to pay health and dental insurance.