Bear Stearns's Sexual Harassment Hush Money

There has been chatter in the past about certain female problems at Bear Stearns. Last month, Janet Tavokoli made some roundabout claims of sexism at Bear, particularly with respect to its longtime CEO Jimmy Cayne. But there didn’t seem to be much there, so to speak.

Now Charlie Gasparino at the Daily Beast adds some fuel to the fire, saying that as one of his last acts as CEO, Jimmy Cayne agreed to pay a female employee $2 million to pre-emptively settle a sexual harassment charge against Ace Greenberg, the firm’s longtime chairman.

Greenberg said he wouldn’t comment on the story, though he then followed it up by saying it was “bullshit.”

Even if true, we’re not quite sure what the meat of the story is. No company wants to have a sexual harassment charge aired — whether it’s plausibly deniable or not. Even if Bear hadn’t been going through its own death throes, it’d have behooved the company to keep it quiet.

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