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What he did seems bush league
Posted on: January 5, 2024 at 08:28:39 CT
JayHoaxH8r MU
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compared to your trump.
In 2005, Quadrangle retained private placement agent Hank Morris to help Quadrangle raise money for its second buyout fund.[19] Morris had come highly recommended to Rattner from U.S. Senator Charles Schumer.[20] Morris was the chief political advisor to Alan Hevesi, the New York State Comptroller and manager of the New York State Common Retirement Fund (CRF), which invests in many private equity funds. Morris told Rattner he could increase the size of the CRF investment in Quadrangle's second buyout fund. Rattner agreed to pay Morris a placement fee of 1.1% of any investments greater than $25 million from the CRF.[21]
In 2009, Quadrangle and other investment firms were investigated by the U.S. Securities and Exchange Commission for their arrangements with Morris. The SEC viewed the payments as "kickbacks" in order to receive investments from the CRF since Morris was also the chief political advisor to Hevesi.[19] Quadrangle paid $7 million in April 2010 to settle the SEC investigation, and Rattner personally settled in November for $6.2 million without admitting or denying any wrongdoing.[22]
The case drew significant media attention when the office of Andrew Cuomo, the New York State Attorney General, also sought penalties from Rattner.[23] Rattner has been a major fundraiser for Democratic Party candidates including Al Gore and Hillary Clinton.
In an appearance on the Charlie Rose Show, Rattner asserted that hiring Morris as a placement agent was "legal then, legal now, and done properly."[20] He explained he was willing to settle with the SEC, but questioned whether Cuomo was motivated by the "facts" of the case and called his settlement demands "close to extortion."[20][24]
On December 30, 2010, Rattner settled with the New York Attorney General's office by agreeing to pay $10 million in restitution. As part of the settlement, Rattner was barred from appearing before a public pension fund in any capacity for five years. Rattner did not admit any wrongdoing and continued to assert his innocence.[24][25]
In 2005, Quadrangle retained private placement agent Hank Morris to help Quadrangle raise money for its second buyout fund.[19] Morris had come highly recommended to Rattner from U.S. Senator Charles Schumer.[20] Morris was the chief political advisor to Alan Hevesi, the New York State Comptroller and manager of the New York State Common Retirement Fund (CRF), which invests in many private equity funds. Morris told Rattner he could increase the size of the CRF investment in Quadrangle's second buyout fund. Rattner agreed to pay Morris a placement fee of 1.1% of any investments greater than $25 million from the CRF.[21]
In 2009, Quadrangle and other investment firms were investigated by the U.S. Securities and Exchange Commission for their arrangements with Morris. The SEC viewed the payments as "kickbacks" in order to receive investments from the CRF since Morris was also the chief political advisor to Hevesi.[19] Quadrangle paid $7 million in April 2010 to settle the SEC investigation, and Rattner personally settled in November for $6.2 million without admitting or denying any wrongdoing.[22]
The case drew significant media attention when the office of Andrew Cuomo, the New York State Attorney General, also sought penalties from Rattner.[23] Rattner has been a major fundraiser for Democratic Party candidates including Al Gore and Hillary Clinton.
In an appearance on the Charlie Rose Show, Rattner asserted that hiring Morris as a placement agent was "legal then, legal now, and done properly."[20] He explained he was willing to settle with the SEC, but questioned whether Cuomo was motivated by the "facts" of the case and called his settlement demands "close to extortion."[20][24]
On December 30, 2010, Rattner settled with the New York Attorney General's office by agreeing to pay $10 million in restitution. As part of the settlement, Rattner was barred from appearing before a public pension fund in any capacity for five years. Rattner did not admit any wrongdoing and continued to assert his innocence.[24][25]
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What he did seems bush league - JayHoaxH8r MU - 1/5 08:28:39