Steven Rattner

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Obama's Ex-Car Czar: Bain Ad 'Unfair'

Says it wasn't Bain's responsibility to create jobs

(Newser) - The man who turned around the auto industry for the Obama administration thinks it's out of line in attacking Mitt Romney's Bain record . "I think the ad is unfair," former "car czar" Steve Rattner said on MSNBC's Morning Joe this morning. "Look, Mitt... More »

Rattner Pays $10M to Settle Pension Fund Case

He admits no wrongdoing in case brought by Cuomo

(Newser) - New York's nasty legal fight between Andrew Cuomo and investment banker Steven Rattner—two of the city's major players in Democratic circles—is finally over. Rattner, who also served as President Obama's point man for the auto bailout, will pay $10 million to settle accusations that his company paid kickbacks... More »

Cuomo Files $26M Suit Against Steve Rattner

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... More »

Bloomberg Hires Rattner to Manage Money

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... More »

Rattner: Why I Fired GM's Wagoner

Former car czar calls deficiencies 'appalling'

(Newser) - Barack Obama's former car czar says he had no choice but to fire GM's Rick Wagoner. "Everyone knew Detroit's reputation for insular, slow-moving cultures," Steven Rattner writes in an essay for Fortune. "Even by that low standard, I was shocked by the stunningly poor management that we... More »

Rattner May Have Quit Over Pay-to-Play Settlement

New York AG targets ex-car czar's company

(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... More »

Obama's Car Czar Steps Down

(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... More »

NYC Probes Rattner's Firm in Pension Scandal

Quadrangle paid finders fees to indicted adviser's company

(Newser) - New York City authorities are investigating whether Quadrangle Group, formerly led by Obama car czar Steven Rattner, deceived managers of the city's pension funds, the Wall Street Journal reports. Rattner's firm, Quadrangle, paid finders fees to Searle & Co., which had been headed by now-indicted political adviser Hank Morris,... More »

Obama's Auto Boss Faces Charges of ... Nothing

Rattner's pay-to-play 'scandal' is common practice

(Newser) - The press is abuzz over Obama auto-recovery boss Steven Rattner’s ties to a pay-to-play scandal, but every story about Rattner mentions he’s not accused of anything. What he apparently did—paid to receive part of a public pension fund to manage—is “an open practice,” so... More »

Bailed-Out Banks Don't Want to Bail Out Chrysler

Lawmakers say rescued banks should cooperate in auto rescue plan

(Newser) - Auto task force Steven Rattner's request that four big banks write off their $7 billion debt to Chrysler in return for nothing met with a big no from dropped jaws, reports the Washington Post. JPMorgan Chase, Morgan Stanley, Citigroup, and Goldman Sachs are seeking a better deal, but critics argue... More »

Rattner, Obama's Auto Chief, Caught Up in Kickbacks Probe

Source says Rattner linked to pension fund pay-for-play deal

(Newser) - Steven Rattner, the head of President Obama's auto task force, is involved in an SEC probe of a kickback scandal involving New York state's pension fund, a source tells the Wall Street Journal. Rattner is not accused of any wrongdoing, but is believed to have directed a $1.1 million... More »

Auto Task Force to Back More Loans, Push Concessions

Experienced or not, decisions from Obama's task force will come this week

(Newser) - President Obama’s auto task force will back new loans for General Motors and Chrysler but will ask for more sacrifices from unions, management, and GM’s bondholders, the Wall Street Journal reports. GM and Chrysler have requested $22 billion more atop the $17.4 billion already loaned to them.... More »

Chrysler, GM May Need 'Considerably' More US Aid

(Newser) - Chrysler and GM could end up needing a “considerably higher” amount than the $21.6 billion so far requested, Bloomberg reports. Steven Rattner, who heads President Obama’s auto task force, said it's possible the request could go as high as $40 billion. He also said that Chrysler’s... More »

Obama Auto Team in Detroit Considering $22B More in Aid

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... More »

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

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... More »

With Car Czar Delayed, Automakers Spin Wheels

GM and Chrysler find no one behind the wheel of auto restructuring

(Newser) - Amid the federal appointment frenzy, the lack of a "car czar" has received little attention, but the vacancy is holding up automakers trying to meet restructuring deadlines included in their $17.4 billion federal loan, the Wall Street Journal reports. The loans require General Motors and Chrysler to submit... More »

Fannie/Freddie Rescue Not Radical Enough

Feds must return GSEs to original purpose of providing liquidity

(Newser) - The Treasury’s rescue plan for Fannie Mae and Freddie Mac may be “superbly crafted,” Steven Rattner writes in the Washington Post, but it won’t solve the government-sponsored entities’ problems. Continuing as private-sector enterprises is a setup that “simply doesn’t work.” The GSEs had... More »

Cuckold's Web Vendetta Wrecks Banker's Career

Bitter online campaign pays off when ex-wife's disgraced lover resigns

(Newser) - The resignation last week of a top Wall Street banker, supposedly to “spend more time with his family,” was actually the result of a successful Internet vendetta by the cuckolded husband of a woman with whom Steve Rattner had had an affair. Rattner tells the New York Times... More »

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