Icahn: Back Room Deals Must End!
Fed up with the back room wheeling and dealing on Wall Street? Now you can do something about it, thanks to Carl Icahn.
The billionaire investor has never been shy about his disdain for corporate management. But he’s just taken sweeping new action and he wants you to join the cause.
“I’d like people to come into my blog and join the United Shareholders of America. We have to change the rules and make these guys accountable,” he tells Fast Money.
In a nutshell, Icahn doesn’t feel corporate management is properly held accountable for their actions. And going forward, he’s determined to see that they are. “You can’t get rid of these guys,” he says. “And in many companies it’s asking the fox to guard the henhouse. The fox comes out pretty fat.”
If you click here, you can go to Icahn’s website and join his crusade.
And in case you’re wondering, the billionaire investor doesn’t think the crisis will improve anytime soon. “I think we have some real problems,” he says.
“Banks are all clogged up and it’s hard for them to go through the de-leveraging which is what they’re doing. And they have money on the right side of the balance sheet that they’re afraid will be pulled. As a result I don’t think you’re going to see a loosening up of loans for a long time.”
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Trader disclosure: On Oct.6, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (UUP), (MSFT), (WMT), (MCD), (BNI); Pete Najarian Owns (AAPL) And (AAPL) Puts; Pete Najarian Owns (IYR) Put Spread; Pete Najarian Owns (MS) And (MS) Puts; Pete Najarian Owns (RF) And Is Short (RF) Calls; Pete Najarian Owns (GS) Call Spread, (RIMM) Call Spread, (WB) Call Spread, (XLF) Call Spread, (NCC) Call Spread; Pete Najarian Owns (BIIB) Calls; Finerman Owns (GS); Finerman's Firm Owns (MDY), (SPY), (IWM), (MO), (JNJ), (MSFT), (DEO); Finerman's Firm Is Short (BBT), (COF), (IYR), (IJR), (USO), (SPG)
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