Steven Rattner, the chief architect of the bailouts of General Motors and Chrysler, is leaving the Obama administration after less than six months on the job and just days after ushering GM through a speedy bankruptcy-court proceeding. Full Story »
Posted by Samuel W. Velsor IV
It is what was not said that leads to speculation. Neil King gives no speculation here as to whats up, hopefully he will keep his ear to the ground for whats next.
The job also was widely seen as a stepping stone to potentially bigger jobs within the administration for Mr. Rattner, a top Democratic fund-raiser and one of the few prominent administration officials with an extensive business background.
Is this (quiting) the first shoe to drop?
Mr. Rattner’s plans aren’t known. He won’t be returning to Quadrangle Group, according to people familiar with the firm. His departure this year triggered a “key-man” clause in agreements with investors in the firm’s flagship buyout fund that let clients withhold money pledged to the fund if Mr. Rattner, who has long sought a government post, ever left.
Steven Rattner has done a magnificent job for America, Chrysler and GM in a very short period of time. By Washington (beltway) standards one could call it a miracle. Since he wanted to work for this President one can only wonder what is coming next.