Rachel Bitterman (also known as "Miss Bitterman") is the greedy and bratty new owner of Bitterman Bank and Development, the bank she inherited from Mr. Bitterman. (The nature of their relationship is undisclosed). She is the main antagonist of the 2002 TV-movie It's a Very Merry Muppet Christmas Movie.
When first introduced in the movie, Rachel Bitterman comes off as a sweet person. This changes, however, over the course of just a few sentences when her intentions to foreclose on The Muppet Theater are revealed to Kermit.
Pepe, intrigued with the idea of working for "monies instead of stardust", went to work for Miss Bitterman as an assistant so as to fulfill "Ricky Martin's dreams to salsa with Pepe... and she's hot!" She similarly dallies with one of her executives.
Having received the only copy of the contract between the Muppets and Bitterman Bank from her new employee, Pepe and Miss Bitterman began to formulate a plan that would allow her to take over the Muppet Theater and transform it into a "trendy new nightclub", which she calls "Club Dot". In the World in which Kermit was Never Born, Club Dot (and Rachel Bitterman's sway over others) is fully shown.
The plan was simple: She would change the contract so the money owed by the Muppets would be due at 6 P.M., Christmas Eve. However, the Muppets, unaware of this change, would think the money was not due until midnight of the same night, as it was originally agreed upon.
They regained the theater when Rachel Bitterman discovered the building was useless to her, for Pepe had redeemed himself by making the Muppet Theater a historical landmark. Embittered and defeated, Miss Bitterman storms out of the theater, whining and ranting against the Muppets.
- Pepe's nicknames for Rachel Bitterman include "Bitter-Buns" and "Sexy Banker Lady".
- Bitterman Bank and Development's initials spell out "BBAD".