Carl's Corner Pt. 2: Consider Yourself Warned

Carl Icahn has never been shy about his disdain for the way most companies are run. But now he’s really not holding back.

“This sorry episode on Wall Street only does further to highlight the need for better corporate governance controls to reign in reckless CEOs and spur ineffective boards. We need a change in corporate America," he writes on his website IcahnReport.com.
And the way in which Icahn plans to bring about that change is to rewrite the laws and hold management accountable for their decisions in a whole new way. Before a judge.

If you’re on a board of directors or part of top management consider this fair warning. If Icahn has any say in the matter your world will be changing. He's mad and he's not going to take it anymore. Really.

And if you’re a shareholder Icahn invites you to join his United Shareholders of America. “Only with numbers will shareholders be able to compete with the Business Roundtable and get legislation passed in Washington to finally make boards accountable,” he tells us.

If anyone can get that done, it’s Icahn.

You can learn more about Icahn's plan to hold management accountable on his websiteIcahnreport.com

> How's Icahn trading? We couldn't chat with him and not ask!

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Trader disclosure: On Oct.15, 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); Seymour Owns (AAPL), (MER), (MSFT); Seygem Asset Management Owns (RIO); Seygem Asset Management Is Short (PBR); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (C) Put Spread; Najarian Owns (GS), Is Short (GS) Calls, Owns (GS) Put Spread; Najarian Owns (MS) And (MS) Puts And Is Short (MS) Calls; Najarian Owns (NOK), Is Short (NOK) Calls, Owns (NOK) Puts; Najarian Owns (RIMM) Call Spread; Terranova Owns (AAPL), (EXM), (FCX), (FTO), (MA), (NOV), (POT), (X), (VLO); Terranova Owns December Dollar Index Futures;

Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW), (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc

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