Obama's Former Auto Czar Being Investigated for Pension Kickback Scheme

So, Andrew Cuomo has made it official, and former Obama "Car Czar" Steven Rattner is under investigation for kickback schemes involving the New York State pension system:

In case you were living under a rock, this is why he left so quickly from his position managing the bailouts of GM and Chrysler:

New York Attorney General Andrew Cuomo confirmed his office is investigating former Obama administration auto industry advisor Steven Rattner, in a growing probe into illegal kickbacks involving the state pension fund.

Rattner, who helped craft the federal rescues of General Motors and Chrysler, left the Obama administration abruptly last year. This morning, the private equity firm he co-founded, Quadrangle Partners, agreed to pay $7 million to settle allegations it made illegal payments to a New York state official and a political consultant in exchange for millions of dollars in pension investments.

But the settlement specifically excludes Rattner, who Cuomo says is no longer with the firm and remains under investigation. What's more, Quadrangle issued a scathing statement against its co-founder.

"We wholly disavow the conduct engaged in by Steve Rattner," the statmement says. "That conduct was inappropriate, wrong and unethical."

This is a guy who operated a corporate "chop shop," and we are surprised to discover that he is a dirt bag.

This "experience" thing, which justified, Rattner, Geithner, Summers, etc. is highly overrated.

Ethics first, allegiance to the American public second, and only then consider experience.

Earlier post.