Rattner May Have Quit Over Pay-to-Play Settlement

Obama taps financier Rattner as lead in GM, Chrysler restructuring

(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. More»

Ex-auto czar vows to fight it

(NEWSER) - Talk about timing. On the same day that Steve Rattner got to trumpet GM’s new IPO , Andrew Cuomo filed a trio of lawsuits against the ex-auto czar related to a pay-to-play scandal involving New York’s pension fund. Cuomo’s asking for $26 million in damages, and a lifetime ban on Rattner in the securities industry, Fortune reports. At the same time, the SEC revealed details of a $6.8 million settlement Rattner had agreed to over the same case. More»

Pariah/ex-car czar is under investigation in pay-to-play case

(NEWSER) - Steven Rattner doesn't have a ton of friends these days, but Michael Bloomberg is apparently one of them. New York's mayor has hired Rattner to manage his fortune and his philanthropic foundation, sources tell the New York Times , despite the kickback accusations swirling around him. Rattner, who briefly served as President Obama's car czar, has been accused of bribing an ex-comptroller to help land an investment contract for his private equity firm Quadrangle. More»

(NEWSER) - The man tabbed by President Obama to see General Motors and Chrysler through bankruptcy is leaving the post, the New York Times reports. Though Steven Rattner’s former investment firm is under investigation, it’s unclear if that affected his decision. Treasury Secretary Tim Geithner said today that, with both auto giants emerging from bankruptcy, Rattner is leaving to spend more time with family. He’ll be replaced by Ron Bloom, a top member of the advisory group. More»

GM and Chrysler, both facing collapse, woo more taxpayer dollars

(NEWSER) - With the specter of bankruptcy looming over General Motors and Chrysler, President Obama’s auto team is in Detroit today as it considers whether to give the companies $22 billion more in bailout cash, the Wall Street Journal reports. The field trip will include visits to production and engineering facilities and a meeting with the United Auto Workers. More»