Liz-Vision
  • November 13, 2008 11:59 AM EST by Liz Claman

    A $6,000 Dollar Shower Curtain vs. Billions in Your Tax Dollars

    In an exclusive prison interview airing today on FOX Business, former TYCO Chairman and CEO Dennis Kozlowski expressed to me confusion and dismay that he has to spend 8-25 years in state prison for grand larceny that included a conviction on misappropriation of company funds adding up to about $150 million dollars while companies like AIG have soaked up hundreds of billions of dollars in taxpayer money for making bad bets.

    The FOX Business crew and I arrived yesterday morning at Mid-State Correctional Facility just outside of Utica, NY, to speak with Kozlowski, whose appeal was just rejected by New York's highest state court. It's the first time he's commented on the appeal rejection, but he also talked extensively about the rescue package, taxpayer outrage, what his life is like inside prison, how he refuses to die in prison, how ironic it is that the razor wire he stares at every day is the same razor wire his own former company manufactured. 

    Call him greedy, a thief, the poster boy for corporate excess...but keep this in mind: Dennis Kozlowski has paid back every dime of the millions of fines levied against him, has already spent 3 years and 3 months in prison, and is serving a longer sentence than some convicted murderers at his prison are serving. 

    You can judge for yourself throughout the day on Fox Business. The largest portion of my extensive, exclusive interview airs at 4pm ET on "Bulls and Bears." Let me know what you think.

    --Liz

DEC

Rapists and murderers are dispicable people and most often are not the types of people that pass themselves off as outstanding citizens. People like Dennis K. however that enjoy the limelight, money infuence and respect of many American people are held to a much higher, as they should be, standard. When someone like Dennis does this kind of deception the full force of the law should be used against them. Speaking from a family who has had a loved one murdered I know first hand the emotions that surface. That is typically one family that is in great distress. But what Dennis did effected thousands, maybe 10's of thousands of families that probably lead to some very desperate situations. The punishment must fit the crime and when you steal so many peoples loyalties, trust and futures you have only yourself to blame for those consequences.

November 19, 2008 at 12:54 pm

Cind

I think it is wrong that murderers get shorter sentences than guys like this. He DOES not deserve a stronger punishment than a murderer. Just shows our society thinks more of money than human life.

November 19, 2008 at 12:34 pm

Rugman

Yeah, but the Ford CEO makes a base of 12 million....

November 19, 2008 at 9:51 am

Jay

Liz- You should have broke him out of there.

November 14, 2008 at 3:45 pm

Alan

Dennis Kozlowski is a poster boy for greed and avarice. We should hold his picture up high every day to remind us of what goes on in the bowels of Corporate America. Unfortunately, the Koslowski's, Ebber's and Lay's of the world are like cockroaches. For everyone you see, there are a hundred others you don't see. This includes the CEO's and corporate leadership who are "legally" making decisions based, solely, on what will maximize their bonus, this year, at the expense of the future. These are not the custodians of the American enterprise. These are the thugs of business who steal the future from their company, the jobs from their employees and the strength from America. You can leave Dennis in the roach motel.

November 14, 2008 at 1:07 pm

Shawn

Barb You must work at AIG to be so harsh. My grandkids will be dead before AIG pays back even half of what they got in this bailout. So keep getting money from the tax payers and throwing your parties. Just be thankful you still have a job.

November 14, 2008 at 10:04 am

Barry

Liz, During the 1980's I lived just outside Exeter NH, where Tyco's roots began and I remember Dennis K. I remember the company at that time as an up and comer with many good things being said about its management team. If I had only had the hind site (and a few extra bucks ) to invest in that company at the time,but I had my money and my career invested in the local computer industry at the time.I wish Dennis well and success with his next appeal as I believe his punishment is very harsh and a result of some example setting after the tech bubble burst. I agree with Dennis about the current financial crises and share his frustration. Granted there is plenty of blame to go around but at the heart of this crises are the politicos in Washington who put a lot of pressure on financial institutions to put aside prudent lending standards to promote social goals and accelerate home ownership. Wall street and government regulators are also culpable as well for their practices; excessive leverage,not raising the red flags while all the signs of trouble were clearly visable. Only time and political will can determine how much fraud and corruption played a role and by whom. Barry Ararat,NC

November 13, 2008 at 2:58 pm

Ken

Liz, Usually I like the reporting you do. However, good as it may be that Dennis Koslowski has "paid back" all his debts, I don't want to hear anything out of his mouth except I AM SORRY! How about that for humility and doing the right thing. I had friends that worked for Tyco that were forced to take unpaid furlows while Dennis was having Jimmy Buffet concerts at his house in Europe. Come on! Do you think that we (the regualr working guys) really give a shit about what Dennis has to say from prison. You have done better and you should do better. TV is off for the rest of the day because I do not care about what Dennis has to say. He should finish out his 8 years and then go get a job. Seriously!

November 13, 2008 at 2:56 pm

Ginger

Let him go. His excesses seem small now that we've been "raped" by our own government officials. Send Barney Franks to take his place.

November 13, 2008 at 2:24 pm

barb

Hey Moron, Are you stupid as everyone else, AIG has a loan fool, not a bailout. AIG has to and will pay it all back with interest, the taxpayers gain not lose. Do a litte research peabrain before you write a bunch of crap

November 13, 2008 at 2:17 pm

about this blog

  • Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.

most popular posts