Obama's car tsar faces 'life ban' over bribes scandal

Officials at the New York state employees' pension fund have pleaded guilty to funnelling money to managers who agreed to pay kickbacks, and Mr Rattner is accused of funding the distribution of a low-budget movie made by the brothers of the fund's chief investment officer.

According to yesterday's lawsuits, he also paid $1m in "sham fees" to a placement agent working on behalf of the fund and the New York state comptroller, Alan Hevesi, as well as contributing to Mr Hevesi's re-election campaign. In return, Quadrangle, Mr Rattner's former fund, was given a $150m investment from the pension fund.

Webmaster's Commentary: 

One does have to wonder about the people President Obama seems to be perfectly comfortable keeping around him, by way of his appointments.

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