Rattner to Pay $10 Million

Investment banker Steven Rattner, who helped put together the auto company bailout, has agreed to hand over $10 million after settling allegations of influence-peddling. New York Attorney General Andrew Cuomo’s office accused Rattner of paying kickbacks to help his company win $150 million in state pension fund investments. In addition to paying $10 million, as opposed to the $26 million Cuomo originally sought, Rattner is barred form doing business with public pensions in New York state for five years. The attorney general wanted a lifetime ban from the securities industry.