Dennis Kozlowski Weighs In On Corporate Greed, From Jail

Awesome. Can’t wait to see this. Fox Business 4 pm. Why the jailers would agree to let him appear is beyond us.

After looking at the pic we do feel kind of bad for him, though.

From Fox Business release:

In a jailhouse interview former TYCO CEO Dennis Kozlowski told FOX Business Network’s (FBN) Liz Claman that the government rescue plan amounts to Socialism, his actions as CEO of TYCO pale in comparison to those of Lehman Brothers, Bear Stearns & AIG, and his appeal case was hurt by today’s current economic crisis.

Kozlowski commented on the following during the interview which will be presented at 4PM/ET today on FBN’s Bulls & Bears:


“I sit here and I read about a $150 billion bailout of AIG, I compare it to a $6,000 shower curtain.  It’s hard to reconcile the two.  Or, I see Bear Sterns and Lehman Brothers going away as companies and they’re not reading anything more.  Now, there may be issues going on with Bear Sterns and Lehman, but these were valuable investment houses that suddenly vaporized off the scene.”

“You couldn’t even closely draw a comparison, at all…. [Tyco was] in four major businesses at the time.”

On AIG spending money on retreats and spa vacations after the bail-out:

“That surprises me.  That’s very surprising.  If that is true, if that really happened, that’s criminal. That’s really bad.”

On how the government bail-out is hurting him:

“The way things are going for CEOs right now, with all the bailouts going on, that’s of no help to me whatsoever.”

“If we were back to boom times and stock markets were going great and people were making money and the world’s 401(k)s weren’t down 30 or 40%, I do think that I would have had a better shot at the appeal. I do feel that.”

On his role in history compared to today’s financial crisis:

“Why am I sitting here?  Tyco is still a viable company, still alive and kicking. Bear Sterns is under, Lehman Brothers is under.  Merrill Lynch had to be acquired.  There are all kinds of banks going under right now.”

“I would think that the financial world would say, ‘Please bring back the $6,000 shower curtain.’  You know, that seems like nothing in the middle of everything that’s going on right now.”

“Murderers that I’ve met, rapists, there are certainly people that have far less of a sentence than I have, yes.

On How Long Until the American People Can Trust Corporate America:

“Probably not within our lifetimes, or not within our generation…Corporate CEO’s, at least in financial institutions, maybe even in the automotive companies, will now soon become part of the government.  And you’re going to have government investment in companies.”

Reaction on having lost his latest appeal:

“I was shocked.  I was devastated. Totally surprised.”

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