The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Steve Rattner, Auto Czar, Kickback King

Nov 22, 2010

Wall Street whiz Steve Rattner was head of the Obama crew that ran GM and Chrysler through bankruptcy, and forced workers to pay for it with heavy concessions and the loss of the right to strike.

Rattner has now been sued by New York Attorney General Andrew Cuomo. Cuomo says Rattner paid kickbacks to a pension fund in return for its business.

And he just settled SEC insider-trading fraud charges by paying a 6.2 million dollar fine and agreeing to “not associate” with any investment adviser for two years. The SEC charge said, “Rattner delivered special favors and conducted sham transactions that corrupted the Retirement Fund’s investment process.”

Yes, a specialist in sham transactions and corrupt processes was just exactly what GM, Chrysler, and Obama needed to run those sham bankruptcies!