Would-Be 'Car Czar' to Head Auto Task Force

Obama taps financier Rattner as lead in GM, Chrysler restructuring

By Rob Quinn,  Newser Staff

Posted Feb 24, 2009 7:58 AM CST

(Newser) – Steven Rattner has been named chief adviser to the panel tasked with restructuring GM and Chrysler, Reuters reports. The financier was considered the frontrunner to be "car czar" before President Obama opted for a panel rather than a single chief. Rattner, who will leave the private equity firm he co-founded to take the position, is still expected to play a central role but without direct oversight.

Steven Rattner, seen here in a 2006 file photo, is joining the Treasury as a special adviser on the auto industry.   (Getty Images)
Steven Rattner is to join a panel tasked with overseeing the restructuring of Detroit's troubled automakers.   (AP Photo/Carlos Osorio)
Steven Rattner and Charlie Rose arrive for the WNET and WLIW 13th annual gala at Gotham Hall June 13, 2006 in New York City.   (Getty Images)
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Steve has a unique understanding of the incredibly complex relationships between government and markets. I congratulate President Obama for making a great choice.
- New York Mayor Michael Bloomberg

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