The Securities and Exchange Commission (SEC) is reportedly considering a ban on former auto czar Steven Rattner from working in the securities industry for up to three years. Even if he gets the three years, it would be pitifully short.
Rattner oversaw the bailouts of Chrysler and GM, which were conducted to the benefit of the United Auto Workers. In the GM bailout, billions of dollars were simply stolen from bondholders and turned over to the union-controlled funds.
