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Rattner May Have Quit Over Pay-to-Play Settlement

New York AG targets ex-car czar's company

By Kevin Spak,  Newser Staff

Posted Jul 15, 2009 8:30 AM CDT
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(Newser) – Washington is dying to know why Steven Rattner quit after just months as President Obama’s car czar. One possible reason: New York Attorney General Andrew Cuomo is pushing for a legal settlement with his company for its part in a pay-to-play scandal surrounding the state’s pension fund, sources tell AP. An investment group led by Rattner, until he went to Washington, paid more than $1 million to a person since indicted in the case to get access to pension funds. Other companies that made payments have settled for sums from $2 million to $30 million.

There are also less-sinister theories on why Rattner quit, Eamon Javers posits for Politico. Some think he’s eying political office, or a big private-sector paycheck. “Can you imagine the amount of money he can make now?” says one industry insider. “He’s at the peak of his marketability right now—he’s ‘Steve Rattner, the guy who turned around General Motors.’”

New York Attorney General Andrew Cuomo speaks to the press in this file photo.
New York Attorney General Andrew Cuomo speaks to the press in this file photo.   (AP Photo)
Steven Rattner, former Gov. Mario Cuomo and Bill Moyers attend an even in New York in this 2006 file photo.
Steven Rattner, former Gov. Mario Cuomo and Bill Moyers attend an even in New York in this 2006 file photo.   (Getty Images)
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COMMENTS
Showing 3 of 4 comments
kokuaguy
Jul 15, 2009 5:30 AM CDT
You would have a point if Obama were to quit. Rattner made no campaign promises and owed nothing to the public or anyone. He did his job. I actually think Palin did the right thing for herself and family. and for Alaska. If McCain had won the effect would have been the same. I think more highly of her judgment and intelligence as a result.
ChickenChopper
Jul 15, 2009 3:31 AM CDT
NO comparison...this guy has a clear reason he quit and he's not the 'standard-bearer' for anything. she doesnt and is. matter of fact
Altoecko
Jul 15, 2009 2:34 AM CDT
No, real skill.

 
New York • General Motors • Andrew Cuomo • pension funds • Obama administration • President Obama • pay to play • car czar • Steven Rattner

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