Steve Rattner

Time 2022-09-26 03:29:45

Web Name: Steve Rattner

WebSite: http://www.stevenrattner.com

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Steven Rattner

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Steven Rattner is the Chairman and Chief Executive Officer of Willett Advisors LLC, the investment arm for former New York Mayor Michael R. Bloomberg’s personal and philanthropic assets. In addition, he serves as the Economic Analyst on MSNBC’s Morning Joe and is a contributing writer to The New York Times Op Ed page. He previously served as Counselor to the Secretary of the Treasury and led the Obama Administration’s successful effort to restructure the automobile industry, which he chronicled in his book, Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry.

Latest Article

The New Tax Bill Doesn’t Touch the Wealthy

August 19, 2022

Originally published in the New York Times.

Early in my deal-making career, a Wall Street veteran counseled me to “never let the perfect be the enemy of the good.”

The Senate majority leader, Chuck Schumer, may have had similar advice in his head as he relentlessly corralled his 49 Democratic colleagues into passing the Inflation Reduction Act, which emerged as not just a good bill, but a great bill, as President Biden described it when he signed it on Tuesday.

Yet without trouble from one intransigent Democratic senator and a significant political misjudgment by the Biden administration, we would have had an even more consequential package.

The obstinate Democrat was, in the end, not Joe Manchin of West Virginia — who fought hard for his beliefs and his constituents in the course of signing on — but Kyrsten Sinema, the Arizona freshman who prides herself on a quirky individualism seemingly patterned on one of her predecessors, the iconoclastic Republican John McCain.

When she helped block what would have been the first increase in the federal minimum wage since 2009, she did so by mimicking Mr. McCain’s dramatic thumbs-down vote in 2017 on proposed cutbacks to the Affordable Care Act.

While many of Mr. Manchin’s changes improved the bill — such as by turning it from deficit raising to deficit lowering — it was solely Ms. Sinema’s demands that drastically weakened the tax portion of the resulting legislation. Continue reading →

Recent Articles

August 2, 2022Reduce Climate Emissions and the Deficit? It Might Yet Be Possible.June 15, 2022The Fed Should Make Amends for Its MistakesApril 14, 2022We May Be on Track for a Recession Just as the 2024 Campaign Kicks Off

Media

September 14, 2022MSNBC’s Morning Joe: August’s Inflation Report Was an Unpleasant SurpriseSeptember 2, 2022MSNBC’s Morning Joe: Where Are America’s Workers?August 23, 2022MSNBC’s Morning Joe: The IRS Could Get Its Mojo Back

Blog

September 22, 2022Steve Rattner’s Morning Joe Charts: The Fed Still Has Work to DoSeptember 14, 2022Steve Rattner’s Morning Joe Charts: August’s Inflation Report Was an Unpleasant SurpriseSeptember 2, 2022Steve Rattner’s Morning Joe Charts: Where Are America’s Workers?

Book

“[a] surprisingly modest account…Rattner has a journalistic talent for the telling detail,resulting in a memorable tale of life in the middle of the economic meltdown...Rattner deftly draws portraits of the inhabitants of "the Oval" and the West Wing...Rattner has proved himself a gifted chronicler.” -Time Magazine

From the publisher:

The first real look inside Team Obama due just before the 2010 elections mixes political warfare and big business shakeups in equal proportions, and comes from a uniquely informed source. Steve Rattner is not just the man brought in by the president to save the auto industry, he is a former New York Times financial reporter who also earned a place among the top tier of Wall Street s most informed investment bankers and corporate experts. Now, from his vantage point at the helm of the historic auto-industry intervention, Rattner crafts a tightly plotted narrative of political brinkmanship, corporate mismanagement, and personalities under pressure in a high-stakes clash between Washington and Detroit. He also explains the tough choices he and his team made, working against a ticking clock and facing vocal opposition from free market champions, to keep Chrysler and General Motors in operation.

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