A Wall Street financier who was the Obama administration’s Car Czar is apparently fighting a Security and Exchange Commission move to ban him from working in the financial industry for his part in a “pay to play” scheme.
According to numerous press reports, Steven Rattner, who masterminded the Treasury Department bankruptcy filings of General Motors and Chrysler last year, is under investigation by Andrew Cuomo, New York’s ambitious and Democratic attorney general. Cuomo looked at his role as part of the Quadrangle Group in a kickback scheme that netted the firm millions of dollars of business from a New York State pension fund.
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