ANOTHER HIGH-MINDED PUBLIC SERVANT - AT 6:31 A.M. ET:  Another Obaman will have to come up with a good explanation.  From The New York Times:

The man leading the Obama administration’s efforts to restructure the auto industry has been described in Securities and Exchange Commission documents as having arranged for his investment firm to pay more than $1 million to obtain New York State pension business.

Although he is not named in the documents, a person with knowledge of the inquiry said the investment executive is Steven Rattner, co-founder of the Quadrangle Group, the prominent private equity firm.

The S.E.C. complaint, filed as part of an expansive state and federal investigation into corruption at the state pension fund, details the efforts of Quadrangle to gain business from the pension fund beginning in 2004.

COMMENT:  In Chicago this would be a "legitimate interaction for the public good."  Let's see how tough the media will be in exploring this.  The Times is to be commended for reporting it - especially as Rattner used to be a Times business writer.

April 17, 2009