15
November , 2018
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Recoveries During Attorney General Madigan’s Tenure Top $14 Billion for State of Illinois

 

CHICAGO, IL  —  Illinois Attorney General Lisa Madigan announced her office collected $864 million in revenue on behalf of the state through litigation and collection efforts in 2017. Since Madigan took office, her office has collected over $14 billion on behalf of the state.

 

The revenue collected for the state by Madigan shows that for every dollar of taxpayer funding her office received, she generated $28.01 back to the state.

 

“Since becoming Attorney General, I have brought in more than $14 billion for Illinois, including nearly half a billion dollars in funding for our state’s pension systems as the result of the 2008 financial crisis,” Madigan said. “I am proud of my work to generate needed revenue for the state of Illinois especially during difficult economic times.”

 

The revenue collected by Madigan in 2017 included $19.5 million for Illinois pension systems from a settlement with Moody’s Investors Service to resolve an investigation into its marketing and sale of risky residential mortgage-backed securities leading up to the 2008 economic collapse. In addition to this settlement, Madigan has reached six other settlements – with Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Standard & Poor’s – stemming from investments in mortgage-backed securities that resulted in recovering over $450 million for the pension systems.

 

Madigan’s office also collected over $339 million through collections litigation, including cases involving the collection of funds for damage to state property, child support enforcement, fines and penalties. Madigan also collected more than $250 million through tobacco litigation and more than $254 million in estate tax revenues.

 

In addition to recoveries for the state, Madigan’s Consumer Fraud Bureaus mediated nearly 25,000 complaints in 2017 and provided more than $6 million in mediated savings for Illinois consumers.

 

 

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Welcome to CopyLine Magazine! The first issue of CopyLine Magazine was published in November, 1990, by Editor & Publisher Juanita Bratcher. CopyLine’s main focus is on the political arena – to inform our readers and analyze many of the pressing issues of the day - controversial or otherwise. Our objectives are clear – to keep you abreast of political happenings and maneuvering in the political arena, by reporting and providing provocative commentaries on various issues. For more about CopyLine Magazine, CopyLine Blog, and CopyLine Television/Video, please visit juanitabratcher.com, copylinemagazine.com, and oneononetelevision.com. Bratcher has been a News/Reporter, Author, Publisher, and Journalist for 33 years. She is the author of six books, including “Harold: The Making of a Big City Mayor” (Harold Washington), Chicago’s first African-American mayor; and “Beyond the Boardroom: Empowering a New Generation of Leaders,” about John Herman Stroger, Jr., the first African-American elected President of the Cook County Board. Bratcher is also a Poet/Songwriter, with 17 records – produced by HillTop Records of Hollywood, California. Juanita Bratcher Publisher

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