It's time for Crisis at a Glance! There's a new horror film out, and it's about finance.
Carl Icahn's movie is called "Danger Ahead," but first, a reminder of who Carl Icahn is.
For decades Icahn has tried taking over companies one after another.
Sometimes he wins; sometimes the management buys him off.
He always seems happy either way.
Anyway that's who Carl Icahn is.
In his movie, he says companies do stock buybacks and acquisitions instead of growing their operations.
He says low interest rates were a perfect opportunity to borrow for modernization and expansion.
But he slams the Fed for keeping interest rates too low for too long.
He says that encouraged people to make risky investments when they don't know what they're doing.
He says mobsters have more ethics than Wall Street do.
He recommends tax breaks to bribe companies into bringing back the operations they shifted overseas.
The movie has more scares than solutions.
That's Crisis at a Glance!!!
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