JPMorgan Chase

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.   

Chase Tower
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.