James Cayne

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Check Out Mansions of Bigwig Bankers

(Newser) - It's not been the best of years for the titans of Wall Street: a few federal bailouts, a housing collapse, and now a Ponzi scheme of mind-boggling proportions can do that. "Where did all that money go?" wonders the website wowOwow.com. And it has a partial answer: Straight... More »

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

(Newser) - More than $3 billion was paid to the chief executives of the five biggest financial firms on Wall Street in the run-up to the credit crisis, Bloomberg reports. While supervising bad mortgage-related credit bets that eventually brought the financial system to its knees, Merrill Lynch’s Stanley O’Neal took... More »

Shareholders Rubber-Stamp Bear Selloff

84% OK JPMorgan buyout; chairman 'sad' over firm's demise

(Newser) - The buyout of Bear Stearns neared finality today with 84% of shareholders voting in favor of acquisition by JPMorgan Chase, the Wall Street Journal reports. Chairman James Cayne shared his feelings publicly with shareholders about the bank’s demise for the first time: "I personally apologize,” he stated,... More »

Bear Stearns Chairman Sells $1B Stake for $61M

Cayne bites the bullet with his company

(Newser) - Bear Stearns Chairman Jimmy Cayne yesterday became the poster boy for the company’s fall from grace, selling his one-time $1 billion stake in the investment bank for a mere $61.3 million, reports the Wall Street Journal. Cayne sold 5.7 million shares he’d acquired for $10.84... More »

Bear Stearns CEO Will Step Down

Add Cayne to roster of victims of subprime collapse

(Newser) - Add Bear Sterns CEO Jimmy Cayne's to the list of rolling heads in the subprime mortgage market collapse, reports the Wall Street Journal. Cayne, 73, has been the target of board and shareholder angst over the 53% drop in the bank’s stock last year—the largest of any of... More »

No Bonus for Bear Stearns Execs

On the eve of announcing its first quarterly loss ever, top execs pass on bonuses

(Newser) - Bear Stearns’ CEO and other top executives, poised to announce the company’s first quarterly loss in its 84-year history tomorrow, are expected to bypass millions of dollars in annual bonuses, an acknowledgment of the dismal year the firm had, driven down by the collapse of the subprime mortgage market... More »

Bear Stearns Axes Prez Over Fund Fiasco

Subprime woes reach executive suite after hedge funds implode

(Newser) - Bear Stearns has fired its No. 2 and once-likely successor as CEO in the wake of  the collapse of two company hedge funds worth more than $1B, reports the Wall Street Journal. Warren Spector, the most high-profile casualty to date in the subprime-mortage crisis rocking Wall Street, is a mortgage... More »

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