Icahn Rails on "Dysfunctional" Corporate Governance

Carl Icahn thinks there is a junk bond bubble, and he’s not alone. As he gave another investment warning, he also called corporate governance “totalitarian state.”

Speaking on activism, the activist fund manager with a 20 percent annualized rate of return, said while there are very good CEOs and very good boards, “the system itself is dysfunctional. It’s all camouflaged today because the economy’s good, interest rates are low and the market is high. So shareholders aren’t really upset by it.”

Icahn calls corporate governance 'totalitarian state'

Icahn has warned about stimulus and the derivatives time bomb in the past. But his most scathing critique for entrenched corporate management and their country club-like board of directors. “It’s...