WASHINGTON, July 13, 2009
Rattner Resigns as Obama's Car Czar
Cites Decision to Return to Private Life; Former Steelworkers Official Ron Bloom to Take Over
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This June 10, 2009, file photo shows Ron Bloom, senior adviser on the auto industry at the Treasury Department testifies on Capitol Hill in Washington, before the Senate Banking Committee hearing on the domestic auto industry. (AP Photo/Susan Walsh)
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Timeline General Motors A look at major dates in the history of the now-troubled auto company
The administration said Monday that Rattner decided to return to private life and his family in New York City.
Rattner won praise for the job he did managing the massive restructuring of General Motors and Chrysler. But his government service came under a cloud with an investigation of an influence peddling scandal back in New York.
Authorities have said that Rattner, an investment banker, was unlikely to face charges in the investigation which involved a giant state pension fund that provides retirement benefits for more than 1 million government employees.
In a statement, Treasury Secretary Timothy Geithner praised Rattner's work on the auto industry overhaul.
"We are extremely grateful to Steve for his efforts in helping strengthen GM and Chrysler, recapitalize GMAC and support the American auto industry," Geithner said. "I hope that he takes another opportunity to bring his unique skills to government service in the future."
Rattner will be replaced by Bloom. He assumes leadership of the task force's activities as the government transitions from day-to-day restructuring to "protecting the substantial investment the American taxpayers have made in GM, Chrysler and GMAC," Geithner said.
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Say, brianbwb, just how many czars does your messiah need? Doesn't it just bother you a little bit that these guys are not elected and get no vetting? If a Republican did this, would it be ok with you??
while pension fund holders were wiped out for pennies on the dollar and hands over the carcasses of what was left of our machine-tool capacity
to a bunch of locusts and maggots in Italy.
Now that the work of Stevie-the-rat is finished, he steps down for Obama the puppet of Wall Street/City of London to take the political heat
and his face used for target practice for political sh_t throwing.
Wow...its just hard to find anybody with "business experience" who isn't tainted.
Of course, one look at the nation's economy and it is perfectly obvious that no one has been looking out for the public's - and thus the nation's - interests for some time.
Which, in turn, suggests that there is enough taint in both business and Washington to make the lack of a stench up and down I-95 something of a miracle.
As far as the economy, no one has ever been looking out for the public interest, the whole idea of government was simply to mitigate competing corruption, so that they wouldn't morph into mafia-style inter-business wars, and to make sure that the money stayed concentrated in as few hands as possible, that the public would not rise up and depose such persons from power.
The entire concept of the US government is based on corruption, as is the concept of "big" business.
- by GovernmentControl July 13, 2009 5:33 PM EDT
- Obamas master plan to destroy the american economy continues to unfold. As goes GM so goes america.
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- by Stop_the_crying July 13, 2009 6:09 PM EDT
- You must be an independent contractor, self employed, but out of work for the last 18 months, haven't paid any taxes ( income or social security ) for the last 15 years. Eminantly qualified to make such a judgement on the plan. Must be from one of those red states.
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- by quapawsix July 13, 2009 10:29 PM EDT
- I do believe that it was Bush Senior that said what is a stake here is a NEW WORLD ORDER that's why we are in this mess and we are spending 10 billion dollars a month on an Illegal war started by Jr. Bush the Idiot, his family and their buddies Chenney, Rumsfeld, and Rice are responsible not Obama Pay attention to detail and quit complaining. Gee these Republicans still do get it.
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- by brianbwb-2009 July 14, 2009 12:25 AM EDT
- That being the case, America went belly up way back in the '70s, when GM began laying off tens of thousands of workers monthly, and opted for factories in near-slave-labor S.E. Asian countries. Your old saw about how goes GM ceased to be true or relevant back then.
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- by brianbwb-2009 July 14, 2009 12:25 AM EDT
- That being the case, America went belly up way back in the '70s, when GM began laying off tens of thousands of workers monthly, and opted for factories in near-slave-labor S.E. Asian countries. Your old saw about how goes GM ceased to be true or relevant back then.
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See all 16 CommentsBTW, this was long before Mr. Obama entered politics, son.
BTW, this was long before Mr. Obama entered politics, son.