who is the rat well his very things he was vice chairman of the investment
banking lazard so is a bag for a while and then he actually co-founded the
quadrangle group is a private equity firm a private what he is also in
finance and it's a step above
that romney was in private equity so we're joined by the big leagues
he eventually came president while most cars are
but he ran into a little bit of trouble at about that time
turns out that he was involved in a skiing
where they were doing paybacks
money
of the new york state pension funds
and so they would go up as were about to explain here
show you the details of
they would offer money and other awards like
making a movie for one of the president of the pension funds etcetera
to try to get back on track as if they get the contract from the new york state
they're gonna charge an enormous amount of money on
so well did your state attorney general's office possible on that
i was run by andrew cuomo at the time he's now of course the governor of new
york and at the time caudle cuomo said
steve ratner
was willing to do what evelyn took to get his hands on a
pension fund money limping take backs
orchestrating a movie deal informally campaign contributions
bc thats
how politics works
now they use a guy named hank morris
and apparently so the carlyle group also very connected
group that also gets government contracts and is also involved in
private equity and uh... what it mister moore stairwell he pled guilty to a
felony count of violating
the mark knack for painting cracks and he went to prison
that is a political consultant
all these guys hired
to do their paybacks
now did they go to prison this year and the rivers and of the carlyle group
present observers are form of
hank morris has been doing payments on our behalf so we can make millions and
millions of dollars
client should not disseminate find that out
cut not banknorth
so
steer at her
wound up paying as sixteen million dollar fine you do your job or side
now pours into coma was in your state attorney general in twenty ten
so he's paying a too
new york and by the way
six million of that sixteen was so the s_e_c_
so he pays finds
now did he admit he was guilty of course that i mean he's a beloved financier in
america
if you commit a crime in
your middle-class guy you will be questionable every in my guide me smoke
pot you know we're all in trouble right
but every one of the top bankers in the world
you never have to admit any crime
all i've made a ton of money off of that let me give you sixteen million of a
backpack
cosmonaut as this
not only that
and we have to admit i did anything wrong
no admission of guilt
but to be fair there were other consequences
he was banned
from appear in any capacity for any public pension fund within the state of
new york for five years
to be okay
any associating also banned from associated in investment adviser broker
dealer
for two years
wow wow
the reason they're from l_a_ times and
you're telling me that in a couple years
seem rather than go back to get in here say president but again
and is is the up
inboard you gotta birthday
now walk
it's because
here's one other thing ever happened to usd renter
he was a huge democratic farmers
uh...
so he's got both piece of the puzzle
in the financial world is a very important executive an arrest one
and he he money to politics
some minor miracle they bus them in the first ones i thought it was some
guy in the attorney general's office in new york was like this looks really bad
and the higher floyd damnit now good news
but they will do its lab on the rest of your move along so seem rather
pretty much says task i know what happened quote
looking back it was a bit like
the half life of a radioactive isotope
every food few months the intensity what happened
seemed to go down by half
so he says
in the beginning somehow this is david their money back
one guy idea mack five hundred allah donation
he said within at couple of months just a couple months
the politicians were back
asking for more money
that's how this came display
and guess what happened
always on still rather he's not a pariah
always right back in a nothing seemed out made appearances on and does or
regularly
and i said bcs morning joe a_b_c_'s this week
also on fox news sunday some writing for the financial times politico the new
york times
a respectable member of society
all the indeed is a money you need to spread around
for the right people
so
by here's what ever want
who attended steer at his sixtieth birthday party
you begin in a sense of what's the ratner never actually on any trouble
for doing
when you talk talk kickbacks as of bribery that something you should go to
jail for
here's a sixtieth birthday party list
mayor bloomberg of new york barry diller jimmy dot i mean of course very bill
isn't huge media mogul jamie down as a huge banking mobile harvey weinstein
and other that medium or will separate rose to worry or corrupt morin
brian roberts is another huge media mogul fred will plan
or their souls virtue here by the way who it is
the publisher of the new york times
you have friends in high places
you ain't gonna gerald
you're right about in the party circuit sphere which he was a bit invited
for the holiday parties
of ice president joe biden
recently to the going away party of hillary clinton
his wife or seems to work for hillary clinton
this is how incestuous since okay
is bad and good graces before they like out is the cars are but you gotta go
he campaign
for all of my campaign
this time around
busy explain after a couple months everybody forgot to one of my money
again
when a aspirate diller date
why do you continue to associate with this guy who was doing something really
that
work obligations there were ever thought he was culpable
no authority by
you're rich friends are never culpable
and when asked about at michael bloomberg
two interesting things
i love this at the time
when he was asked about it
he said
home page st quote the only thing wrong with you
is on the in or pop pop pop pop
repulsive of the legs
or did i mention
that he runs michael bloomberg's money
he handles is money four m while bloomberg's an office
she i wonder why he thinks is a swell guy
and he didn't want to go to jail sentence going
for these lavish parties in in being uh... talent by their top people in the
world
final quote from bloomberg is
my favorite
said i've ever heard anyone
say they would never mind steven ratner
to a party because of what was happening
i would want to ruin your parks
see the bottom line is they don't give a damn you do something wrong
you do
bribery you knew highway robbery who cares as long as you're part of the
russian crowd and you spread that money around the politicians and then you hire
them for jobs and cetera they are always going to have you back in the highlights
lickety-split no problems whatsoever
and that's how washington works
and that's why the rest of the country
hates you
but that in that mobile they don't get anything via the post of the town
bidding there s a country's ubuntu suckers
widening congressional pool ratings nine percent
why do you think
uh... the one profession that is just as bad as the voltage is the bankers
cosplay not down we know this is what's happening
j out
thinking about it under we've we've done the few stories
about how politicians may be freshmen
representatives
citizen and the spin
allies with the times had a fun race
so in a position if you think in this is my career i want to stay here maybe do
something
if it wasn't easy way to get some more money
and upkeep call card actually balls the bread means money
an end that way
trust an office in the back and do something messiness of the because we
know there are crap
but their thinking
this all be on the phone so much i get some big dollars in regularly and only
five deal with all the time now and and and and the release may really be a lot
of these ones in really wanted something
some finding some campaign finance changes
i report from ets solely in the show becos partly what you're saying that i
would come back there if i have time
of about
what the real mode which is the smartest the bottom line is
look man
we get out you gotta get paid that's that you know how much money bill
clinton's made
since he left office
hundred and twenty five million dollar
slurs and for the people he deregulated most of us from the backs
do you know one upset the bankers they're the ones are gonna give you the
money
not forget when you're in office
after you retire
bolting scrabble systems about infected completely by the west
but do you know you made a point in there
that is really good night really have hurt anybody else make and i have
frankly and a lot of it
the reason why they care about the big bummer so much as one it helps them to
get reelected etcetera etcetera
but to
then they don't have to stay on the phone outlaw
youth in order to get to a hundred thousand or a million or whatever you
could stay on the phone with nickel in nine donors for days and weeks at a time
for you to think of the broncos the rather he sends you a million bucks a
pop
thanks god
i'm gonna go golfing
that same motivation that is probably incredibly real that people are not
taken into town