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NEW YORK, Dec. 30 (UPI) -- Steven Rattner, President Barack Obama's former car czar, has agreed to pay New York state $10 million to settle two lawsuits over a pension kickback scheme.
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NEW YORK, April 22 (UPI) -- A U.S. investment firm run by Steven Rattner, who heads the White House's efforts to rescue the auto industry, is struggling for its future, observers say.

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Steven Lawrence Rattner (born July 5, 1952) was an American financier and private equity investor who was one of four founding partners of the private investment firm Quadrangle Group, which invests in media and communications companies globally. On February 23, 2009, the Wall Street Journal announced that Rattner would be named to the Treasury Department as auto industry adviser. The New York Times reported that he would be lead advisor and leader of the industry group for Treasury Secretary Timothy Geithner. Rattner is a major political fundraiser for Democrats and was (until July 2010) co-leader of the White House task force that restructured General Motors and Chrysler. Since then he has been "promoting his new book on the auto industry". Suits in New York have sought restitution and punishment against Rattner for his involvement in a pension related kickback scandal.

A graduate of Brown University, Rattner started his career as a reporter with The New York Times, first at the Washington bureau, where he became close friends with Times' ownership-family member Arthur Sulzberger, who also was at the time working as a reporter; and then at the London bureau. Subsequently, Rattner quit journalism and joined Morgan Stanley, where he founded its communications group.

In 1989, Rattner joined Lazard Freres as a general partner. He founded the partnership's media and communications Group. Rattner was involved in completing various deals for companies such as Viacom and Comcast. In 1997, he became Lazard's deputy chairman and deputy CEO, a new position.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Steven Rattner."
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