Steve Rattner steps down as head of Obama’s auto task force

Steven Rattner

Steven Rattner, the head of President Obama’s auto task force, will be leaving his position at a time when his private equity firm has been linked to a corruption probe by New York’s attorney general, Andrew Cuomo.

In announcing his resignation on Monday, U.S Treasury Secretary Timothy Geithner said that Rattner will be returning to his private life with his family in New York. Sources close to Rattner said that he does not plan on going back to his former firm, Quadrangle.

“The attorney general’s office has been seeking additional documents from Quadrangle concerning the New York pension fund investments,” a source told Reuters.

Rattner, who oversaw bankruptcies at General Motors Corp and Chrysler Group, has not been accused of any wrongdoing… yet.

– By: Omar Rana

Source: Reuters
Photo Source: Official White House Photo by Pete Souza – Flickr