Steve Rattner is out as head of the auto task force. He’ll be replaced by his deputy Ron Bloom, as the process of rebuilding the American auto industry now moves to its second phase, with both GM and Chrysler out of bankruptcy.
The politics and wisdom of saving the car companies aside, we have to hand it to Steve Rattner — and to Obama for picking Rattner.
They got done what they wanted to do, and both Chrysler and GM went through the bankruptcy WAY smoother and faster than anyone expected. Again, there was controversy, but they certainly got the job done. Even “chooch-gate” couldn’t derail him.
Update: Dan Primack at peHUB who knows more about Rattner and Quadrangle than anyone else, Twitters ominously: “Steve Rattner just stepped down as auto czar. Know this: Rattner will be in the news again before end of summer, and it won’t be about cars”
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