Rattner Off Dancing with the Czars: Car Czar Steven Rattner is leaving Obama as SEC Probes Intensify
Because Change is such a hard word to define …
Barack Obama car Czar Steven Rattner, leaving so soon? Steven Rattner will be no longer Dancing With the czars.
Steven Rattner will depart as head of the U.S. autos task force that oversaw unprecedented bankruptcies at General Motors Corp and Chrysler Group, Treasury Secretary Timothy Geithner said on Monday.
Ron Bloom, a senior member of the White House/Treasury Department task force and a former Wall Street executive and labor restructuring expert, will take over day-to-day responsibilities for Rattner, who will soon return to private life in New York, officials said.
Rattner is a former journalist, investment banker and co-founder of private equity fund Quadrangle, which he left in February to join the Obama administration.
I am sure it has nothing to do with the New York AG probe of Steven Rattner pension ties heating up.
With Obama’s declining approval ratings, he can well afford to have any scandals linked to his government take over of the auto industry. Michelle Malkin also speculates on “Rat”tner’s sudden departure from the Obama czar team.
The New York attorney general’s probe of investor Steven Rattner, related to how Quadrangle, the private equity fund that he co-founded, won business from New York’s public pension fund, has “intensified” in recent weeks, a source familiar with the issues said on Monday.
Rattner is one of several high-profile individuals linked to the probe. When the controversy broke in April, U.S. President Barack Obama stood by Rattner, saying he had not been accused of wrongdoing.
As Naked Capitalism states, at least he was not appointed pension czar by Obama.