No Mr. Mayor, We Are Not The Problem

Mike Bloomberg yesterday addressed the controversy surrounding Steven Rattner, who recently launched a new asset management firm to handle the Mayor’s money (basically the same team that managed it for Rattner’s old firm, Quadrangle Group).

More specifically, he defended his “close friend” to the Washington Examiner, saying: “I don’t think he did anything wrong… I happen to think the charge against him is ridiculous.” Then he added this bon mot: “I’ve always stood up for anybody that works with me who gets attacked by the press.”

Two thoughts for you, Mr. Mayor: First, it isn’t just the press that’s attacking your pal, unless his former partners at Quadrangle and Andrew Cuomo recently switched careers. Second, it wasn’t the press that allegedly persuaded a Quadrangle portfolio company (since defunct) to sign a DVD distribution deal for “Chooch,” over the initial objections of portfolio company management….

I’m not saying he’s guilty. But I am saying that Bloomberg mistakes deflect for defend.