[credit provider=”52 Shades of Greed/ artist PJ McQuade” url=”http://52shadesofgreed.com/jack-of-heartslloyd-blankfein/”] A group of illustrators have conceptualized a deck of playing cards, dubbed “52 Shades of Greed”, that lambastes Wall Street execs and politicians for their roles in the financial crisis.”52 Shades of Greed is a deck of playing cards bearing illustrations […]
The best bridge player in America is a former options trader.The second best is a former commodities trader.
Simon Johnson, the former IMF chief economist who is now a professor at MIT’s Sloan School of Management recently spoke at INET’s conference in Bretton Woods on a panel on “Too Big to Fail.”
I hadn’t finished reading the Journal story [describing supposed personal peccadilloes of Jimmy Cayne, the then-beleaguered CEO of Bear Stearns] myself when I knew that this was the end…. Did I discuss it with anybody? No. Did I go running around the firm saying he had to go? No, because […]
Ace Greenberg has a few hilarious answers for New York Times Magazine’s Deborah Solomon’s interview questions.
Former Bear Stearns chief Jimmy Cayne will take the stand today in Washington DC to explain why his firm no longer exists. Based on pre-released testimony, Cayne will say that Bear’s collapse was the result of “unjustified and irrational” behaviour on the part of the market.
Jimmy Cayne bragged about having an antacid bottle full of cocaine in his office, according to one of the people who talked to Charlie Gasparino for his book The Sellout .
Former Bear Stearns boss Jimmy Cayne is mainly associated with the drug marijuana smoker and apparently, but he may have been into the hard stuff as well. Charlie Gasparino reveals in his new book, The Sell-Out (via NYMag) that Cayne was all about going on skiing trips:
Former Bear Stearns CEO James Cayne personally misrepresented the financial stability of the firm and induced a major shareholder to retain his shares and lose tens of millions when the bank collapsed, says a lawsuit filed in federal court in Manhattan.
Of all of Jimmy Cayne’s indulgences, it was probably his love of the game of bridge which had the biggest negative impact on Bear Stearns during its final month. It basically turned him into an absentee CEO and chairman, as he was even playing a tournament in Detroit during Bear’s […]
When Bear Stearns failed in May 2008, it basically went from trading at $60 on Thursday, $30 on Friday, and then they announced a $2 takeover price on Sunday. It was adjusted to $5 by Monday, and finally to $10 the following week. Quite the fall from $178 in January […]
The world first learned that long-serving Bear Stearns cheif Jimmy Cayne liked to smoke pot from the Wall Street Journal’s Kate Kelly. So naturally now that Kelly’s new book on the demise of Bear, Street Fighters, is out, everyone is flipping through the 247 page tome looking for references to […]
The last three days Bear Stearns existed as a firm were filled with frantic phone calls, tense meetings and high drama. Reporter Kate Kelly’s new book, Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street is an attempt to chronicle the last days of […]
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.
It’s hard to believe it’s only been one year since Bear Stearns went down. Back then the Dow Jones industrial average was at 12,145, Hank Paulson was warning about the moral hazard from bailouts, the chief executives of all our banks were certain that the market was underestimating their financial […]
Where was Jimmy Cayne on this first, painful anniversary on the quick demise of Bear Stearns? Off playing bridge, according to The New York Post, who tracked him down at a tournament in Houston. “Bridge is what I do a lot, and when the weather permits I play a lot […]