Tuesday, May 5, 2009

Mr. Steve Rattner and Chrysler

Mr. Steve Rattner of Quadrangle Group, a private investment firm which is currently investigated by New York Attorney General for the public pension scandal, heads the government auto task force, advising Geithner and Summers. He recently made news when his forceful words to the hedge fund who refused to accept the government's offer on the Chrysler debt they owned was reported in the press.

What I find more amusing though, is that Mr. Rattner, whose investment firm defaulted on its debt to Cerberus, soon-to-be-wiped-out owner of Chrysler, is advising the top government officials on Chrysler restructuring. Not that Cerberus is an angel, but it must be raising blood pressure there, having to deal with Mr. Rattner.

Mr. Rattner was also the one who told GM's Wagoner to take a walk.


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