NY Times October 13, 2010 Financier Is Said to Accept a Ban in Pension Case By LOUISE STORY and PETER LATTMAN
Steven Rattner, who oversaw the Obama administration’s overhaul of the auto industry, for months resisted a settlement with regulators over his role in New York pension fund kickbacks because he did not want to be banned from the securities industry. But this week, Mr. Rattner relented. He has agreed to accept a ban for a few years, according to three people briefed on the negotiations but not authorized to discuss them. That concession was made with the possibility of his facing a criminal charge related to whether he was truthful in his testimony years ago about his role in helping to distribute a low-budget comedy movie for the benefit of a public official. Under a deal with the Securities and Exchange Commission that could be announced as early as Thursday, Mr. Rattner will pay a fine of more than $5 million along with accepting the ban, according to the people briefed on the talks. Mr. Rattner may still be able to perform some roles in finance, even with that ban. A spokesman for Mr. Rattner declined to comment. full: http://www.nytimes.com/2010/10/14/business/14rattner.html --- Steven Rattner: capitalist pig of the month http://louisproyect.wordpress.com/2009/04/30/steven-rattner-capitalist-pig-of-the-month/ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
