Carl Icahn knows a thing or two about how companies get in trouble. The corporate raider or activist investor -- depending upon your point of view -- believes the recent implosion of once iconic financial institutions Lehman Brothers Holdings Inc., American International Group Inc., Fannie Mae and Freddie Mac could be partly blamed on risk-taking managers and their lax board of directors that allowed such behavior. "Where were the boards of directors that are supposed to be overseeing these executives?" Icahn wrote in a post on his blog, The Icahn Report. "All too often compliant boards are intimidated by managements in their
cushy, well-paid worlds and refuse to rock the boat by asking hard
questions and demanding CEO accountability." - Gerald Magpily
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The financial disasters might face the companies are not clear ,So we need more explanation about it