{"id":189328,"date":"2010-04-15T21:23:00","date_gmt":"2010-04-16T02:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/15\/obamas-former-auto-czar-being-investigated-for-pension-kickback-scheme\/"},"modified":"2010-04-15T21:23:00","modified_gmt":"2010-04-16T02:23:00","slug":"obamas-former-auto-czar-being-investigated-for-pension-kickback-scheme","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/04\/15\/obamas-former-auto-czar-being-investigated-for-pension-kickback-scheme\/","title":{"rendered":"Obama&#8217;s Former Auto Czar Being Investigated for Pension Kickback Scheme"},"content":{"rendered":"<p>So, Andrew Cuomo has made it official, and <a href=\"http:\/\/www.cnbc.com\/\/id\/36562575\">former Obama &#8220;Car Czar&#8221; Steven Rattner is under investigation for kickback schemes involving the New York State pension system<\/a>:<\/p>\n<blockquote><\/blockquote>\n<p>In case you were living under a rock, this is why he left so quickly from his position managing the bailouts of GM and Chrysler:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>New York Attorney General Andrew Cuomo confirmed his office is investigating former Obama administration auto industry advisor Steven Rattner, in a growing probe into illegal kickbacks involving the state pension fund.<\/p>\n<p>Rattner, who helped craft the federal rescues of General Motors and Chrysler, left the Obama administration abruptly last year. This morning, the private equity firm he co-founded, Quadrangle Partners, agreed to pay $7 million to settle allegations it made illegal payments to a New York state official and a political consultant in exchange for millions of dollars in pension investments.<\/p>\n<p>But the settlement specifically excludes Rattner, who Cuomo says is no longer with the firm and remains under investigation. What&#8217;s more, Quadrangle issued a scathing statement against its co-founder.<\/p>\n<p>&#8220;We wholly disavow the conduct engaged in by Steve Rattner,&#8221; the statmement says. &#8220;That conduct was inappropriate, wrong and unethical.&#8221; <\/p><\/blockquote>\n<p>This is a guy who operated a corporate &#8220;chop shop,&#8221; and we are <span style=\"font-weight: bold;\">surprised<\/span> to discover that he is a dirt bag.<\/p>\n<p>This &#8220;experience&#8221; thing, which justified, Rattner, Geithner, Summers, etc. is highly overrated.<\/p>\n<p>Ethics first, allegiance to the American public second, and <span style=\"font-weight: bold;\">only<\/span> then consider experience.<\/p>\n<p><a href=\"http:\/\/40yrs.blogspot.com\/2009\/04\/picking-industry-insiders-for-their.html\">Earlier post<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, Andrew Cuomo has made it official, and former Obama &#8220;Car Czar&#8221; Steven Rattner is under investigation for kickback schemes involving the New York State pension system: In case you were living under a rock, this is why he left so quickly from his position managing the bailouts of GM and Chrysler: New York Attorney &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,1009,1173],"tags":[],"class_list":["post-189328","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-government","category-white-house"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189328"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189328"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189328\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}