The Rise and Fall of Steve Rattner

In this week's issue of New York, Steve Fishman covers the spectacular rise—and spectacular fall—of Steve Rattner, the uber-ambitious financial titan who was tapped to serve as President Obama's car czar but was ultimately forced to leave Washington in shame after he became embroiled in the corruption scandal involving state pension money.

Rattner didn't consent to an interview with Fishman, so we don't know exactly how Rattner feels about the last few (very tumultuous) months. But judging by what his friends and former colleagues had to say about the former Wall Street rainmaker, it's safe to say he isn't feeling great:

Steve Rattner is in Martha's Vineyard now, where he likes to fly his plane. It's summer. He's settled into his grand home, with its sweeping waterfront acreage, next to the grand home of Brian Roberts, the CEO of Comcast, a loyal client and friend. Rattner's worked night and day for six months, so he's looking forward to relaxing with his four kids. Still, the vacation has the feel of exile, albeit gilded. This was supposed to be Rattner's Bob Rubin moment, when he ascended past the mere operators to became a noble figure sharing his consummate financial talents with the people. Instead, he's embroiled in a scheme to get rich at the public trough. For Rattner, it's a sad denouement. He's stopped reading about himself-his Google alerts bring up references to Chooch.

In all fairness, not every reference to "Chooch" has to do with the horribly embarrassing movie that Rattner helped finance a few years ago. At least half the time "Chooch" comes up, it's a reference to Philadelphia Phillies catcher Carlos Ruiz whose nickname is Chooch. That probably won't do much to make Rattner feel better, but, hey, we gave it our best shot.

Exit the Czar [NYM]