In the News

• Before the Bust, These CEOs Took Money Off the Table – WSJ (subscription required)
• Financial Week reports that several directors sit on the boards of the two industries hit hardest by the economic downturn and seeking the most government aid.
• A U.S. Senate subcommittee is focusing in part on whether bond-ratings firms, driven by conflicts of interest, boosted mortgage investments which have since collapsed – WSJ via Dealbook
• Financials may need $1 trillion says Analyst – Reuters via New York Times
• Deutsche Bank may cut 900 jobs in London, New York – Bloomberg News
• Mitt Romney writes an editorial on the Big 3 - New York Times

Comments

[Bruce Lewin]

A nice video to add some more fuel to the fire...

http://www.youtube.com/watch?v=S5D1PzS5QKA

[Trent]

Mr. Icahn,
I realize the good that you are trying to do for our country, economy, individual investors and the overall structure overhaul of our corporate boards with accountability. But it is very frustrating to listen/watch so called educated people dance around the mulberry tree and wag the dog discounting the issues that are really effecting our country.

The market will continue to struggle until our federal government engage confidence and restore structure through governance. As a common citizen, I'm not in favor of big government, which is code word for accountability for some fearful of oversight. Our country is in great need of confidence and direct action from our government leaders. I'm not promoting government getting in the business of "government states", just government governance. We have had a practice in this country for decades where a family can't recieve assistance unless the household is fatherless or destitute, which mean most often the father must leave the home. In our double standard of outreach we'll give incompetent boardmembers, CEOs, corporations, etc. our tax dollars with no stipulations for removal of the companies/institutions' head of household..boardmembers, CEOs, etc. Every time the government open the purse without substance they hurt the market further!!! You can't trick or coerce people to invest or borrow or lend!

Why do our government have heartburn with engaging this issue, it's that century old question. What's more important? The People or the Mission?

We continue to fail at recognizing what the economy and the market is in much need of...government governance not to get confused with bigger government. Continuing to throw money at the issue only wallpaper the larger underlying issue with printed money and no concrete resolution for future standards of business. Hardworking people and investors charged with investing their money still won't invest because the perception is the "Mission" is more important and the American people/investors are too stupid to see the pig in lipstick.

We have a severe double standard between the common americans and the hapless incompetents which membership has its privilages. By no means am I trying to be disrespectful to anyone but am I the only one watching this boogey man story which is quickly turning into a sad opera.

Mr. Icahn you are taking on the partial responsibility of our government which is: Government of the People by the People for the People. Cash infusions and or government backing of debt doesn't restore confidence it only makes me bury my money in the backyard. Because if my government doesn't get it, it must be really really really bad.

I really appreciate your efforts but it is sad that our government think so little of its people intelligence levels but I guess its because of the budget we put into educating our children.

God Bless America!