A billion-dollar payout for Chicago Teachers' Pension Fund?
from Crain's Chicago Business
The Chicago Teachers' Pension Fund is making headway battling the biggest banks in the U.S. over interest rate swaps fees, and Chicago's trading firms may be secretly cheering it on. A federal judge in New York ruled July 28 that the pension fund's case alleging the banks have a collusive stranglehold on the interest rate swaps market could proceed. That gives the teachers' pension, and other institutional investors covered by the class action, a potential billion-dollar payout.
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