Well that Bromance did not last too long. Yesterday, in an interview Trump said that he would consider Icahn as a possible cabinet member – one would think Icahn would be pleased, right? Wrong… Not only did Icahn not accept the offer but publicly issued a statement stating that he would not accept the offer and attacked Trump for allegedly misquoting Icahn.

Additionally, one wonders what Trump was thinking in the first place (a not so uncommon occurrence) as it turns out that Trump and Icahn have some previous beef with each-other. Specifically, the following exchange:

Trump on Icahn: “(He) runs companies so badly that I think it’d be really bad for the company if he took over.” Icahn on Trump: “we run companies successfully in many areas, but on point, let’s talk about casinos — Donald’s favorite business.  I purchased the Stratosphere in Las Vegas out of bankruptcy for $300 million in 2000, cleaned it up and sold it one-and-half-years later for $1.3 billion…Somehow, I don’t notice the same record at the Taj which went bankrupt three times under Donald’s stewardship.”

H/T Activiststocks

See the full letter from Icahn below.

My comments re Donald Trump running for President & wanting to nominate me for the Secretary of Treasury by Carl Icahn, Shareholders’ Square Table

I was extremely surprised to learn that Donald was running for President and even more surprised that he stated he would make me Secretary of Treasury.   I am flattered but do not get up early enough in the morning to accept this opportunity.

There are others much more knowledgeable than I concerning Presidential elections.  I will therefore decline to opine on his chances.  But I am knowledgeable concerning markets and believe Donald is completely correct to be concerned that we have “a big fat bubble coming up.  We have artificially induced low interest rates.”

I personally believe we are sailing in dangerous unchartered waters.  I can only hope we get to shore safely.  Never in the history of the Federal Reserve have interest rates been artificially held down for so long at the extremely low rates existing today.  I applaud Donald for speaking out on this issue – more people should.

Carl Icahn Icahn Enterprises
Image: FBN