http://www.postandcourier.com/news/2010/nov/18/ex-auto-czar-paying-62m-sec-settlement/
The justice of White collar crime.
What a god damn joke.
Note that Obama chooses him to be "czar", corruption makes for good political positioning.
And one more time the SEC takes a payoff with no guilt admitted.
Well I guess they have to do that or there wouldn't be to many left to work the wiles of Wall Street.
The Obama administration’s former auto czar agreed Thursday to pay $6.2 million to settle civil charges over his role in an influence-peddling scandal involving New York state’s public pension fund.
The Securities and Exchange Commission announced the settlement with investment banker Steven Rattner. As part of the settlement, Rattner will also be barred for at least two years from working in the securities industry.
The SEC alleged that Rattner and his private-equity firm Quadrangle Group provided kickbacks, political favors and personal benefits in 2004-05 to get access to business from the state’s $125 billion pension fund.
Rattner neither admitted nor denied the charges that were filed in a federal court in Manhattan. But he agreed not to violate the securities laws in the future
