Ex-car czar Rattner settles NY probe for $10M

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The investment banker who helped lead the Obama administration's auto industry overhaul has agreed to pay $10 million to settle influence-peddling allegations in New York. A long list of financial firms and money managers, including Rattner, have agreed to collectively pay $170 million in civil penalties in connection with the investigation. Rattner, a former New York Times reporter who made millions on Wall Street and became a highly respected policy adviser and campaign fundraiser for Democrats, left the Quadrangle Group to help lead President Barack Obama's auto industry task force in 2009.

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