JPMorgan Chase

Illinois Issues - Economy
11:50 am
Mon October 6, 2014

We're Only Midway Through This Recovery

James Glassman
Credit Chase

James Glassman, Head Economist, Commercial Bank, JP Morgan Chase says the economic recovery is better than many people think.   Speaking at the Greater Springfield Chamber of Commerce's Economic Outlook Breakfast, Glassman said this recovery is "in the fifth inning".  

Glassman says there are still two groups that haven't felt the recovery.  Those who are "involuntary" part time workers and students.   

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Big Bank Settlement
8:25 am
Wed November 20, 2013

JPMorgan Chase To Pay Illinois Pension Funds $100 Million

Chase Tower in Chicago.
Credit John Picken (flickr.com/picken)

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.

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