Tuesday, February 19, 2013

Why is DealBook Giving Steve Rattner Free Publicity?

Why is DealBook Giving Steve Rattner Free Publicity?

This morning, DealBook[i] features an article about the reemergence of Steve Rattner, the “auto czar” of the Obama administration, and the founder of Quadrangle, a private equity firm.  Mr. Rattner settled charges with then Attorney General Cuomo over his business dealings with the New York Common Retirement System.  My issue is less with Mr. Rattner than the New York Times and Andrew Ross Sorkin.

I'm not sure why Mr. Rattner would be given free publicity by DealBook and the front page of the business section Doesn't Mr. Rattner get enough help from the paper by getting space on the Op Ed page? He has more than enough money to wage his own public relations campaign.

After reading this article, I'm afraid that DealBook is being swept up in the gala birthday parties, fancy fundraisers, and elite global gatherings like Davos. Wall Street money and power are seductive. Resist temptation.

I wrote about Mr. Rattner in a post on November 21, 2012 (Private Equity Democratic Style).

[i] http://dealbook.nytimes.com/2013/02/18/a-reputation-once-sullied-acquires-a-new-shine/

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