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The "senior executive," not named in the complaint, is Mr. Rattner, according to the person familiar with the matter. He is co-founder of the investment firm, Quadrangle Group, which he left to join the Treasury Department to oversee the auto task force earlier this year.
Quadrangle agreed to acquire the rights for $88,841, and three weeks later the deputy comptroller told the senior Quadrangle executive that Quadrangle would get a $100 million investment from the pension fund, according to the complaint. Quadrangle then paid the $1.1 million finders fees to a company affiliated with the political consultant, according to the complaint.
Mr. Rattner, 56 years old, is a veteran deal maker who co-founded New York-based Quadrangle in 2000 after spending years as an investment banker at Lehman Brothers, Morgan Stanley and Lazard Freres & Co., where he rose to the No. 2 spot. Earlier this year, President Barack Obama tapped him to lead a task force of two dozen people to figure out how to restructure ailing U.S. auto makers General Motors Corp. and Chrysler LLC.
Odd, arent these just some of the companies getting bailed out by the taxpayers or bankrupt?
The "senior executive," not named in the complaint, is Mr. Rattner, according to the person familiar with the matter. He is co-founder of the investment firm, Quadrangle Group, which he left to join the Treasury Department to oversee the auto task force earlier this year.
Quadrangle agreed to acquire the rights for $88,841, and three weeks later the deputy comptroller told the senior Quadrangle executive that Quadrangle would get a $100 million investment from the pension fund, according to the complaint. Quadrangle then paid the $1.1 million finders fees to a company affiliated with the political consultant, according to the complaint.
Mr. Rattner, 56 years old, is a veteran deal maker who co-founded New York-based Quadrangle in 2000 after spending years as an investment banker at Lehman Brothers, Morgan Stanley and Lazard Freres & Co., where he rose to the No. 2 spot. Earlier this year, President Barack Obama tapped him to lead a task force of two dozen people to figure out how to restructure ailing U.S. auto makers General Motors Corp. and Chrysler LLC.
Odd, arent these just some of the companies getting bailed out by the taxpayers or bankrupt?
"Neither Mr. Rattner nor Quadrangle has been accused of any wrongdoing. Mr. Rattner did not return calls for comment.
A spokeswoman for the Treasury, which is in charge of the auto task force, said that "during the transition, Mr. Rattner made us aware of the pending investigation."
"Neither Mr. Rattner nor Quadrangle has been accused of any wrongdoing. Mr. Rattner did not return calls for comment.
Mr Rattner has not been named by name, but sources claim that the "senior executive," is Mr Rattner..
Quote:
Originally Posted by DC at the Ridge
A spokeswoman for the Treasury, which is in charge of the auto task force, said that "during the transition, Mr. Rattner made us aware of the pending investigation."
So they knew the investigation was taking place but didnt care anyways? Um.. hello? What ever happened to caring about ethics in the "Obama" administration? That didnt last long..
Mr Rattner has not been named by name, but sources claim that the "senior executive," is Mr Rattner..
So they knew the investigation was taking place but didnt care anyways? Um.. hello? What ever happened to caring about ethics in the "Obama" administration? That didnt last long..
Who cares if the senior executive is Mr Rattner if that senior executive is accused of no wrong-doing?
Who cares if the senior executive is Mr Rattner if that senior executive is accused of no wrong-doing?
Your right.. he's accused of doing no wrong doing, they are just investigating for nothing..
He only owned the company accused of wrong doing..
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