Steve Rattner Still Has a "Chooch" Problem
Sources in the AG's office say the proposed deal with the SEC --a $5-$6 million fine and a two-year ban from market trading --falls far short of an adequate penalty for Rattner's financial escapades. "It's not enough," says one source.
Back in 2005, Rattner's Quadrangle Group paid a $1 million fee to Hevesi's political guru Hank Morris in exchange for a $100 million investment by state pension funds. To grease the skids, he also invested in a slapstick movie, Chooch, produced by the brothers of former pension fund investment manager, David Loglisci, who has also pled guilty in the case.