Tuesday, September 1, 2015

NY pension probe touches US auto czar

US auto restructuring chief Steve Rattner and his former firm are among those whose actions have been scrutinized in a federal investigation of corruption in New York State's giant pension fund.

NY pension probe touches US auto czar

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The firm formerly run by Steve Rattner, the onetyime NY Times reporter turned investment banker (Comcast was a client) and Democratic Party fundraiser who Obama tapped as his automobile industry reorganizer-in-chief, has been under scrutiny by the SEC for its role in alleged pay-to-play at New York State's pension fund, reports the Wall Street Journal here. Not clear if SEC considers Rattner's Quadrangle, the giant Carlyle Group, and other firms to have been corrupters or victims of greedy state officials. Rattner hasn't been accused of wrongdoing, and the Journal doesn't say how well the state's investment did.

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

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