Former Car Czar Settles New York Probe
RENEE MONTAGNE, host:
NPR's business news starts with punishment for a former car czar.
(Soundbite of music)
MONTAGNE: A banker who advised the Obama administration on the auto bailout, will pay a penalty of $10 million to settle allegations by New York authorities. Steve Rattner has been accused by Andrew Cuomo, the attorney general who is about to become New York's governor, of trading favors for business with the state's pension fund.
The episode is not related to his work with the Obama administration.
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