Wednesday, July 15, 2009

Czar no more

Well, we're down to just 31 czars. Yep, Car Czar Steven Rattner had to abdicate his post when a pesky little accusation of influence peddling bubbled to the forefront. Hmmmmm. I guess this is one of the risks we face when folks are named to powerful positions with no public oversight or accountability.

Apparently New York Attorney General Andrew Cuomo and the Securities and Exchange Commission allege that Rattner's private equity firm paid more than $1 million in kickbacks to a political consultant when they were trying to raise money from the state's public pension fund.

Naughty, naughty.

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