TPN--Obama’s Former Auto Bailout Czar Is Rewriting History

What’s a Barack Obama Administration multi-billion dollar boondoggle without a Czar to oversee it?


For the automobile industry bailout, the Lord Overseer was Car Czar Steven Rattner.

This is the same Steven Rattner who late last year reportedly paid a $6.2 million Securities and Exchange Commission (SEC) fine and accepted a two-year ban from associating with broker-dealers or investment advisers. For an alleged “pay-to-play” New York state pension fund kickbacks scheme he orchestrated after leaving Washington and his Czar-ship.





DC-Wall Street nexis, anyone? Crony Socialism, anyone?



His current gig – besides being a (shocker) MSNBC Morning Joe “Economic Analyst?" Managing New York Mayor – and 1%-er billionaire – Michael Bloomberg’s personal and philanthropic assets.

DC-Wall Street nexis, anyone? Crony Socialism, anyone?

Ex-Czar Rattner was last week out and about – rewriting large swaths of the history of our $82 billion sinkhole auto “investment.” If this publicity run is any indication – and it undoubtedly is – Ex-Czar Rattner’s book on same may not quite be worth the price of admission.

Let’s take a look at some of what he said.

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http://www.teapartynation.com/profiles/blog/show?id=3355873%3ABlogPost%3A1729936&xgs=1&xg_source=msg_share_post

Former Car Czar Steven Rattner rats out Obama

Steven Rattner, President Obama’s original Car Czar, has written a new book called Overhaul that says Obama was “out to get” General Motors (GM) and Chrysler. Obama’s decisions, Rattner says, were political, not economic.

Here are the highlights (or lowlights, if you prefer) from the Huffington Post:


■When Obama was told of the plan to pay GM CEO Rick Wagoner a $7.1 million severance package after Obama ordered that he be sacked, Rattner writes: “Suddenly I felt that I was indeed in the presence of a community organizer…”

■Rattner describes presidential political adviser David Axelrod coming to car meetings armed with poll data to support the takeover and Chief of Staff Rahm Emanuel identify Congressmen in whose districts large Chrysler facilities were located.

■”[Obama's economic team] veered dangerously close to having the government take control of the two most troubled banks, Bank of America and Citigroup.”

■”If his team had linked arms with the outgoing administration, as President Bush’s advisers had proposed, billions of dollars could well have been saved.”

■Rattner says Chief of Staff Rahm Emanual dictated Treasury Secretary Tim Geithner’s schedule, public appearances and staff selections.

■He says Obama economic advisers Larry Summers and Austan Goolsbee and FDIC Chair Sheila Bair as enemies who slowed down decision making with infighting

■Rattner said Obama was frustrated with the auto companies from the start: “Why can’t they make a Corolla?” he has Obama asking.

We just hope that someone sitting around that big conference room table had the guts to look at the President and said, “They could make a Corolla, Mr. President, but because of the union workforce and idiotic governmental regulations, it would cost twice as much.”

Source: Fox News



http://www.ihatethemedia.com/former-car-czar-steven-rattner-rats-out-obama-gm