Bear Stearn Jimmy Cayne
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The stunning downfall of Bear Stearns and its bridge-playing CEO
Bear Stearns was on fire. And its colorful chairman, Jimmy Cayne, was playing cards. The smallest investment bank on Wall Street had survived the Great Depression, Black Monday and the September 11 terror attacks. But by March 2008, clients and trading partners were bolting the firm because it had made huge bets on what turned out to be toxic mortgages.
