Obama's car tsar faces 'life ban' over bribes scandal

``Steven Rattner, the hedge fund industry grandee tapped by the Obama Administration to oversee the restructuring of the car industry, should be banned from the securities industry for life for his role in a pay-to-play bribery scandal, the New York Attorney General Andrew Cuomo has declared. Mr Cuomo's office filed two lawsuits against Mr Rattner yesterday demanding the ban and fines of at least $26m (£16m). The former "car tsar" responded that he would not be "bullied" into a settlement and would defend himself vigorously.''