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Steven Rattner
35quotes
Steven Rattner
Full Name and Common Aliases
Steven Rattner is a well-known American investor, investment banker, and journalist.
Birth and Death Dates
Born on January 1, 1957, in New York City.
Nationality and Profession(s)
Rattner holds dual citizenship of the United States and France and has worked as an investment banker, private equity manager, and journalist throughout his career.
Early Life and Background
Steven Rattner was born to a family of modest means. His father was a lawyer, and his mother was a homemaker. He developed an interest in finance at an early age and attended Hunter College High School before going on to graduate from Yale University with a Bachelor's degree in economics.
Major Accomplishments
Rattner began his career as a journalist, working for The New York Times. In 1996, he joined the investment bank Lazard Frères & Co., where he became a managing director. He later co-founded Quadrangle Group, a private equity firm that focused on investments in the media and financial services sectors.
Notable Works or Actions
Rattner is perhaps best known for his role as the lead restructuring officer for the American automotive industry during the 2008 financial crisis. In this capacity, he helped negotiate and implement a series of plans to restructure General Motors and Chrysler, which ultimately led to the companies' emergence from bankruptcy.
Impact and Legacy
Rattner's work on the auto industry restructuring had far-reaching consequences, not only for the companies involved but also for the broader economy. His efforts helped stabilize the financial sector, prevent widespread job losses, and pave the way for future economic growth.
Why They Are Widely Quoted or Remembered
As a result of his achievements in both finance and journalism, Steven Rattner has become a respected voice on issues related to economics, business, and public policy. His insights are regularly sought after by media outlets and policymakers alike, making him one of the most quoted and remembered figures in his field.
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Note: The provided information is accurate as of the time of writing but may change over time due to new developments or updates.
Quotes by Steven Rattner
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As a beneficiary of the carried interest loophole, I’ve seen firsthand the lack of any difference between the work involved in generating a carried interest and the work done by millions of other professionals who are taxed at the full 35 percent rate.
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Thanks to decades of accumulated federal budget deficits and, more significantly, imprudent Medicare and Social Security policies, we’ve stolen almost $60 trillion from our children.
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Most troublesome is the legalization of ‘crowd funding,’ the ability of start-up companies to raise capital from small investors on the Internet.
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Eye-popping tales of growing income inequality are hardly new. By now, nearly every American must be painfully aware of the widening pay gap between top executives and shop floor laborers; between ‘Master of the Universe’ financiers and pretty much everyone else.
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The highest-income Americans don’t need tax-free health insurance, mortgage interest deductions or deferred taxation on retirement funds.
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Increased revenues, meaning higher taxes, will be a central element of any successful long-term budget plan, and President Obama is right to insist that the wealthy – the slice of America that has come through the recession in by far the best financial health – should provide those funds.
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Finally, let’s keep well in mind the most important lesson of the auto rescue: While government should stay away from the private sector as much as possible, markets do occasionally fail, and when they do government can play a constructive role, as it did in the case of the auto rescue.
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During my 30 years on Wall Street, taxes on ‘unearned income’ have bounced up and down with regularity, and I’ve never detected any change in the appetite for hard work and accumulating wealth on the part of myself or any of my fellow capitalists.
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Slapping a catchy acronym like the JOBS Act on a piece of legislation makes it more difficult for politicians to oppose it – and indeed that’s what happened with the Jumpstart Our Business Startups Act.
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Picking winners among the many young companies seeking money is a tough business, even for the most sophisticated investors. Indeed, most professionally run venture funds lose money. For individuals, it’s pure folly. Buy a lottery ticket instead. Your chance of winning is likely to be higher.
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