Kozlowski on his Tyco and other CEO's

" And it would Liz is exclusive interview with former Tyco CEO Dennis Kozlowski forbids state correctional facility that's in upstate New York."

" We broke this up into chunks and in this segment I asked Kozlowski if he feels executives involved in the current financial crisis should be brought up on criminal charges. As he wants."

" take on the bailout but they like to call the rescue package. As a says something that people have echoed. Certainly across the United States that you wrote a letter to fox business in October about the crisis in about Wall Street it's in essence saying and I'll read this. Those who know better let others into believing that there are shortcuts to making mountains of money overnight as we're seeing now little of it was real. It was a big act that destroyed jobs and lives. Could -- almost be talking about -- under your stewardship. There -- people who did was to obstacles still exists but there were people who were financially hurt."

" Still there are no right you came in. You know close to draw a comparison at all. I tight so we purchased companies and made them part of Tyco and recruit company sit through internal growth. And preparing for major businesses at the time. Nobody ever told us a company that was doing very well if you can't type so it really into possible exposure if you. Like that if you came to type so we through company -- murder ready in trouble if things are going swimmingly well for you you were not looking to sell your company your title you were. In health care business of the valve business -- than. The electronic security business for some businesses that we were Caribbean. And either you were attacked. -- to close to bankrupt or. And murdered trying to avoid a hostile takeover by somebody that you want to be part of and all those things happen to you because. He thought something fell apart along the way when we purchase those companies are -- at times. They were consolidations and some people lost jobs we've we've tried to do that -- some might watch we try to deal with editors we possibly could. But I do believe we took the population of title for a time I started at tackle. 4000 people -- fight if I remember the numbers right. It was something in excess of 200000 people when I left. -- sixty different countries all over the world. So -- certainly. Debate the issue about. People losing jobs -- having any similarity whatsoever. For the financial meltdown accomplish going away and what the stock price did. When the drama all occurred and the investigations began to you. Was going to count gets this -- and shareholders lost money. She shareholders lost money it in that window now. There's these stock went down for a lot of reasons. It in the middle of running type of some of our competitors went chapter eleven in January of 2002. Global crossing some of -- went on capital letter went bankrupt. That affected type of because they were of the customer of ours. And also a competitor of ours so as soon as carnage around -- all of your time. There -- things affecting your affecting -- so you're saying it wasn't just. This grand larceny charge. That brought Tyco stock down. No I had left hike so be in September. 2002. And there's no grand larceny charge at a time when I left title. I was indicted for failure to pay sales tax on pain in New York I think I was the first consumer charge. There was activity in -- it earlier. It's time penalty has ever happen to anybody before typically it's. -- establishment is responsible for for the payment sales -- the question of the shows that however. Having having said that. It wasn't until a few months later when there was a grand larceny indictment. And -- that -- that is brought about by the investigations that went through the voice."

" Do you seek criminal behavior at the company's right now that are at the center of this financial crisis here I don't. I have."

" No idea if there's criminal behavior or not no I do know that. Billions and billions and billions of dollars of."

" Well -- what's lost."

" But I don't know what clothes that I don't know what directors who have -- what would -- director group of what's CEOs."

" Notion should be able to do you think there are some CEOs -- some companies that may be after all of the carnage we've seen should at least be investigated. Subsequently charge."

" I don't you know who once he had not I don't know that it in my opinion for you know through what might have been. Through the through here -- right. Sure -- do think that anybody else is gonna have to go through that but no I do know prosecutors that will be looking. Most I think Taipei think I spoke to talks about a year ago now. -- thought that at some point in time when when the meltdown."

" Continued that there will be investigations there will be indictments that people could put up on charges that interest me that that you say you shudder to think anybody would have the same fate. Because. Some people who were in prison maybe in your situation would say. Why am I sitting here. Tyco is still viable company still alive and kicking Bear Stearns is under Lehman Brothers is under Merrill Lynch has to be acquired. For all kinds of banks going under right now yes."

" They're well. Nobody -- economists fear it would I've been through there for -- pictures to trials."

" Coming up spending my fourth holidays. -- imprisoned in New York State. Prison. -- there's nothing. Positive that there's over feelings idea but I don't need to have other studios in jail to make me feel better what what I need to have done this for. Judges and people to see that the bone series that I have been accused of larceny over on the books and records of the company they were burned by me they were part of my compensation. Program overseen by the orders there was nothing hidden. And that's that's an issue like."

" So was how how does he characterized what's going on now in terms of the government didn't so when ball exactly I'm good question he uses the S word."

" Socialism. And we'll hear more."