The U.S. government had no information about the General Motors Co. ignition-switch defect that’s been linked to 13 deaths, members of the team that oversaw the automaker’s restructuring said yesterday.
Steven Rattner , a co-founder of the private-equity firm Quadrangle Group LLC, will pay $10 million to settle kickback allegations involving New York’s pension fund, less than half of the $26 million state Attorney General Andrew Cuomo sought in a lawsuit.
Quadrangle Group LLC was accused in a court filing by its former head, Steven Rattner , of trying to shift responsibility to him after settling investigations related to the New York state pension fund by federal regulators and Attorney General Andrew Cuomo .
Steven Rattner , the former head of Quadrangle Group LLC, will pay $6.2 million and accept a two- year ban from associating with broker-dealers or investment advisers to resolve a Securities and Exchange Commission probe of kickbacks in connection with the New York state pension fund.
The task force President Barack Obama set up to manage General Motors Co.’s bailout and bankruptcy in 2009 wasn’t aware of the faulty ignition switches linked to 13 deaths in small cars, said people familiar with the matter.
The U.S. auto bailout’s leader challenged a watchdog’s conclusion that Treasury Department officials pressured General Motors Co. to increase unionized workers’ pensions to secure support for its reorganization.