A Quandry for Quadrangle?
Is Steve Rattner about to become the car czar? And, if so, what does that mean for Quadrangle Group, which is currently targeting $2 billion for its third private equity fund? The car czar job is part of legislation introduced today by Rep. Barney Frank, which would impose stricter conditions on TARP and the semi-associated auto bailout/restructuring package. It also was part of the original auto industry bailout bill approved by the House of Reps, but got stripped by the Senate. No word yet on how the Senate feels this time around, although Frank is hoping for a vote in his chamber by next Wednesday.
10 January 2009•3 mins read
