JPMorgan Chase investing in Detroit’s community
JP Morgan Chase’s $100 million dollar pledge to invest in the Detroit community follows a $15 million investment by Goldman Sachs late last year.
Robin Boyle, a professor of urban studies and planning at Wayne State University, says the investments don’t necessarily signal that Detroit is the new darling of Wall Street, but the funds could help the bankrupt city focus on the future, while city managers grapple with billion dollars of debts.
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