Rattner to Leave Auto Task Force

Updated from July 13

Steven Rattner, who had led the Obama administration's auto task force, is headed home.

Rattner "has decided to transition back to private life and his family in New York City," said Treasury Secretary Tim Geithner, in a prepared statement. Rattner will be replaced by Ron Bloom, who had been a senior adviser to the task force.

"With the emergence of both General Motors and Chrysler from bankruptcy, we enter a new phase of the government's unprecedented and temporary involvement in the automotive industry," Geithner said, as "the government transitions its role away from day-to-day restructuring to monitoring this vital industry and protecting the substantial investment the American taxpayers have made in GM, Chrysler, and GMAC." ...