Steven Rattner
Steven Lawrence Rattner is an American investor, media commentator, and former journalist. He is currently chairman and chief executive officer of Willett Advisors, the private investment firm that manages billionaire former New York mayor Michael Bloomberg's personal and philanthropic assets. He began his career as an economic reporter for The New York Times before moving to a career in investment banking at Lehman Brothers, Morgan Stanley, and Lazard Freres & Co., where he rose to deputy chairman and deputy chief executive officer. He then became a managing principal of the Quadrangle Group, a private equity investment firm that specialized in the media and communications industries.
Some of the key events about Steven Rattner
- 1974Graduated from Brown University with honors
- 1975Joined The New York Times as a reporter
- 1982Became the chief of The New York Times' economic news bureau in London
- 1989Co-founded the private equity firm Quadrangle Group
- 1994Faced criticism for his role in the leveraged buyout of Revco drugstores, which resulted in bankruptcy
- 2003Involved in a controversial deal to acquire a stake in Chrysler, which was later scrutinized
- 2005Accused of using his influence at the New York Times to shape coverage favorably for his private equity firm
- 2008Served as lead advisor to the Treasury Department on the auto industry bailout
- 2009Appointed as counselor to the Secretary of the Treasury
- 2009Investigated by the Securities and Exchange Commission for alleged "pay-to-play" practices
- 2010Published the book "Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry"
- 2010Settled civil charges with the SEC, agreeing to pay $6.2 million without admitting wrongdoing
- 2010Banned from the securities industry for two years as part of the SEC settlement
- 2010Resigned from his position as auto czar in the Obama administration due to the SEC investigation
- 2011Became the chairman of Willett Advisors, managing Michael Bloomberg's personal and philanthropic assets
- 2012Appointed by Governor Andrew Cuomo to serve on the board of the Metropolitan Transportation Authority
- 2012Criticized for perceived conflicts of interest between his government role and private sector activities
- 2014Faced backlash for his comments suggesting Detroit autoworkers should accept lower wages
- 2018Released the book "The Great Delusion: Liberal Dreams and International Realities"
- 2019Criticized for his role in advising Puerto Rico on its debt crisis, which some viewed as exploitative
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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