A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration's Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration's Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.
The White House and a spokesperson for the investment bank in question challenged the accuracy of the story.
"The charge is completely untrue," said White House deputy press secretary Bill Burton, "and there's obviously no evidence to suggest that this happened in any way."
I sure hope there is no truth to this story. But I have a sneaking suspicion there might be at least a few nuggets here. And that wouldn't bode well for our economy in the long run.
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