Contributor(s): Steven Rattner | Beginning with the subprime meltdown last summer, U.S. markets and the economy have been thrown into turmoil. Liquidity and default fears have created the worst conditions in financial markets in many years. These adverse developments have spilled over in the "real" economy, raised the specter of recession and worse. Steven Rattner is Managing Principal of Quadrangle Group LLC, a private investment firm with more than $6 billion of assets under management. Quadrangle invests in media and communications companies through separate private and public investment strategies and across all asset classes through its asset management business. Quadrangle has offices in New York, London and Silicon Valley and will be opening an office later this year in Hong Kong.