Carl Icahn: Need to do something about corporate governance

Billionaire investor Carl Icahn on U.S. trade negotiations with China, the markets, President Trump's first two years and Federal Reserve policy.

[gmac]

Equating American corporate capitalism to feudalism is exactly what people need to hear. Our corporations focus on short term profits in order to pad the pockets of managers and Wall Street. About a decade ago the founder of Vanguard, John Bogle, wrote a book titled The Battle to Save the Soul of Capitalism, in it he argued that corporate governance has become captive to the self interests of managers who focus on short term financial manipulations for a bigger paycheck. This comes at the diservice of the communities in which these corporations reside and the workers that make it all possible. And in the end it becomes a liability to the long term viability of the corporation itself since not enough resources were devoted to creating a better product for the marketplace.