Hope & Change Update: Obama Ex-Car Czar Will Pay $10M for Pay-to-Play Scandal

Discussion in 'Politics' started by Neotrotsky, Dec 31, 2010.

  1. Neotrotsky

    Neotrotsky Council to Supreme Soviet

    Dec 12, 2009
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    WASHINGTON, DC – Just ahead of New Years Eve (and before he's headed to the governor's mansion), New York Attorney General Andrew Cuomo settled his pay-to-play suit with former "car czar" .

    Rattner was accused of bribing a member of New York's state comptroller in exchange for the state pension fund doing business with private equity firm, Quadrangle Group. One of those kickbacks allegedly won Quadrangle a $150 million investment.

    Under the terms of the announced settlement, Cuomo will pay $10 million to the state of New York, quite a bit less than the $26 million Cuomo sought. "I am gratified that we have been able to reach an agreement in this case, as it resolves the last major action of our multi-year investigation," Cuomo said. Rattner did not admit to any wrongdoing. He said, merely, "I apologize if during the course of this process there is anything I did that may have made reaching this agreement more difficult."
    Last edited: Dec 31, 2010

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