After only a few short months on the job, Obama's handpicked "Car Czar" has suddenly resigned. It appears his checkered past of pension fund kickbacks is finally catching up to this former investment bankster. Another fine example of how NOT to screen recruits for high level positions. Just a little more egg for the Prez.

Regards - VHF

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Rattner Leaving Administration's Auto Task Force

Wall Street Journal

July 13, 2009 6:46 pm

WASHINGTON -- Steven Rattner, head of the Obama administration's auto task force, is leaving that post and will be succeeded by former steelworkers official Ron Bloom.

The administration said Monday that Mr. Rattner decided to return to private life and his family in New York City.

Mr. Rattner won praise for the job he did managing the massive restructuring of General Motors and Chrysler. But his government service came under a cloud with an investigation of an influence-peddling scandal in New York.

Authorities have said that Mr. Rattner, an investment banker, was unlikely to face charges in the investigation, which involved a giant state pension fund that provides retirement benefits for more than one million government employees.

In a statement, Treasury Secretary Timothy Geithner praised Mr. Rattner's work on the auto-industry overhaul.

"We are extremely grateful to Steve for his efforts in helping strengthen GM and Chrysler, recapitalize GMAC and support the American auto industry," Mr. Geithner said. "I hope that he takes another opportunity to bring his unique skills to government service in the future."

Mr. Bloom assumes leadership of the task force's activities as the government transitions from day-to-day restructuring to "protecting the substantial investment the American taxpayers have made in GM, Chrysler and GMAC," Mr. Geithner said.