A while back, I commented wryly about Steven Rattner's qualifications for being the czar of the auto industry by observing that the only cars he'd been seen in for decades was ones with chauffeurs in the front seat. After that not quite relevant crack, a friend told me that he'd seen Rattner driving an HMV. Well, that is at least a qualification of sorts. Or a disqualification, depending on how seriously the reader or Rattner takes the problems with fossil fuels.

Now, Edward Jay Epstein has looked into the embarrassing problem that Rattner now faces. It is that he and the money management firm he just stopped running greased the wheels, so to speak, of the pension funds and their principals for which Quadrangle Partner was bidding. In some cultures this is called bribery. Read the details.