White House Stands by Its Auto Industry Adviser

April 17, 2009 - 4:31 PM
The White House is standing behind its auto industry adviser whose company is accused of paying more than $1 million to win a lucrative deal with the New York state pension fund.
Aboard Air Force One (AP) - The White House is standing behind its auto industry adviser whose company is accused of paying more than $1 million to win a lucrative deal with the New York state pension fund.
 
White House press secretary Robert Gibbs told reporters aboard Air Force One on Friday that the White House was aware of the allegations but backs Steven Rattner. Gibbs said Rattner is not likely to face criminal or civil charges, and that Rattner informed them of the pending investigation.
 
Rattner was an executive at the Quadrangle Group, a private equity firm, until he left this year to lead President Barack Obama's efforts to fix the auto industry. The Wall Street Journal and The New York Times reported that Rattner met with two now-indicted men to try to win state pension fund business.