Auto czar: Steve Rattner!!!
Wall Street financial whiz Steven Rattner, of Quadrangle Group, who manages Bloomberg's money and gives lots of his own to Democrats like Hillary Clinton, is in line to be the "car czar," according to ABC.
Put the domestic auto industry's future in the hands of a clever Wall Street financier/investor, but don't require that it pay its workers the same wages as the competitors who are eating its lunch?
Just another brilliant idea from the New American Leadership Class.
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Comments (2)
Mr. Riley,
I would like someone ask the tough question ......
If we are giving GM and Chrsyler billions to retool, then
wouldn't you think that we would want some of that money spent
on American Machine Builders?
The problem is that GM and Chrysler are spending millions on
buying new equipment from Europe and Asia; it is easily estimated
that well over 80% of equipment that the automotive industry is
purchasing is coming from outside the US.
Thus, we give them the bailout money .... a portion of it is
going out the back door and going to machine builders
outside the US. That is great for the local economy.
Someone in government (maybe the Car Czar) or President
Obama should put a stipulation on bailout funds that the
money for new equipment should help create
jobs here in America not overseas ....
Just food for thought ... ask anyone that works in the
automotive industry .... all of the equipment is foreign.
Thanks for passing this along to the appropiate parties ... I
would love to see an article about this ....
Regards
Hopeful for the Automotive Industry
The latest President Obama’s appointee is Steve Rattner whom is under fire. He is a financier—a wealthy individual making him one of the sought after persons. He was selected to oversee the automobile industry as the Car czar, of sorts, was the head of the Quadrangle Group, an investment firm that is under SEC investigation. He is alleged to have agreed to finance distribution of a film called Chooch, an Americanized Italian term for a person of questionable intellect, in what seems to be a pay for play scheme in which he got control of a New York based pension fund. Maybe he did it for debt consolidation, or perhaps he was a chooch himself. Regardless, Steve Rattner would get a quick payday loan to make the Chooch scandal go away.