Illinois Pension System

Atty. Gen. Lisa Madigan announces Illinois will get $52.5-million from a Justice Department settlement with Standard and Poors. (Credit: Craig Dellimore/WBBM)

Illinois To Receive Nearly $53M Share Of S&P settlement

Illinois will receive a $52.5 million share of a multi-state settlement with Standard & Poor’s over allegations that the credit ratings agency knowingly inflated ratings of risky mortgage investments that sparked the financial crisis of 2008, Attorney General Lisa Madigan announced Tuesday.

02/03/2015

Bank Of America

Illinois Getting $300M From Record Bank Of America Settlement

Illinois is set to receive a $300 million share of a record $16.7 billion nationwide settlement with Bank of America, over allegations of financial misconduct that helped lead to the 2008 financial crisis.

08/21/2014

Bank Of America

Madigan: Illinois To Get $300M From Settlement With Bank Of America

The deal announced Thursday by the U.S. Justice Department stems from the bank’s role in the sale of mortgage-backed securities in the run-up to the financial crisis.

08/21/2014

US-BANKING-HOUSING-CITIGROUP

Illinois To Receive $84 Million From Citigroup Settlement

It is part of a national settlement with Citigroup because of the bank’s misconduct in the sale of risky mortgage-backed securities

07/14/2014

Illinois State Capitol

Pension Chaos A ‘Negative’ For Illinois Credit Rating

Illinois edged closer to having its worst-in-the-nation credit rating lowered even further as a rating agency declared Thursday that failure to address massive pension problems is a “credit negative” for the state.

CBS Chicago–08/23/2012

Mayor Richard M. Daley

Daley’s Pension Plan Renews Calls For Reform

There are renewed calls for changes in the way government pensions are funded in Illinois, following a report on the kind of pensions Mayor Richard M. Daley is in line for.

CBS Chicago–05/03/2011