As everyone on the planet knows, Jimmy Cayne loves to get high. For some reason, however, he routinely downplays or outright denies any drug use, even though weed has done so much for him. First off, due to its mind clearing properties, Cayne has come up with some of his best ideas while stoned, which Wall Street Marijuana and Cough Syrup Expert Charlie Gasparino details in his new book, The Sell-Out. Coupla things JC came up with while he was “thinking straight,” which the ex-CEO has never been given adequate credit for are 1) to refer to Goldman as “Goldman Sucks” (which seems like such an obvious nickname but took several hits on the grav-bong to put in rotation) and 2) to bring down an 85 year-old institution for shits and giggles.
Second, Bear Stearns would not have soared to the heights it did (pre-crashing to the ground a burning fiery explosion) if it weren’t for the fact that Cayne regularly brought deals home by offering people some of his stash, which he claimed was the best on the Street and no one could resist, not even “a Jew.” From The Sell-Out:
“[Larry] Friedlander also wanted a guarantee: $40,000 a month plus commissions. Cayne said he could handle that as well. Cayne, however, wasn’t sure he had iced the deal. So he really began to turn on the charm. “Listen, you’re going to love working here,” he said. Cayne spoke about Bear as a big family, where Friedlaner’s ethnicity as a Jew wasn’t a drawback as at other firms, such as Morgan and even blue-blood Jewish firms such as Goldman “Sucks,” as Cayne liked to call Goldman Sachs.Cayne then gave Friedlander one last reason to work at Bear: “Come over here,” he said as he opened the bottom drawer of his desk and pointed. “You should also know I get the best pot in New York City.”
Posted by guest , Oct 19, 2009 2:07PM
love this guy
Posted by guest , Oct 19, 2009 2:07PM
dis is all true. I got contacts
-cg
Posted by Sir Smoke-a-lot , Oct 19, 2009 2:08PM
"Doctor says I need a back-e-atomy"
Posted by guest , Oct 19, 2009 2:09PM
He looks so blazed as an eagle in that pic.
Posted by guest , Oct 19, 2009 2:11PM
we REALLY need the Ashley Dupre pic
Posted by guest , Oct 19, 2009 2:12PM
who cares..drinking much worse
Posted by guest , Oct 19, 2009 2:13PM
Cayne is a classic character, sotires of him never get old
Posted by guest , Oct 19, 2009 2:17PM
I came up with my best ideas crunked out on purple drink. Sometimes Boone's just ain't enough.
-Dirty South K-Lew
Posted by guest , Oct 19, 2009 2:17PM
@6 "drinking much worse"
huh? cayne's drinking? drinking in general? wtf are you talking about.
Posted by guest , Oct 19, 2009 2:23PM
I could see us being good buddies.
-KL
Posted by guest , Oct 19, 2009 2:29PM
little clear boxes Jim? never heard of em
Posted by guest , Oct 19, 2009 2:32PM
@3, then you better talk to Sampson!
Posted by Anal_yst , Oct 19, 2009 2:33PM
@6
you can't prove that
Posted by guest , Oct 19, 2009 2:36PM
charlie gasparino hates jews.
Posted by guest , Oct 19, 2009 2:37PM
Suck on my golden scrotes, pothead.
-Blue-blood squirting squid
Posted by guest , Oct 19, 2009 2:50PM
@6 is obviously JC
Posted by CoveredLong , Oct 19, 2009 2:55PM
Whoa, $40,000 a month, that's $960,000 a year! I only make $700,000 a year...that's way less than his $40,000 a month.
...now, if only I could pay someone my salary in exchange for his, that could be some real arbitrage opportunity right there.
-Former Bear Quant
Posted by CoveredLong , Oct 19, 2009 3:00PM
@13 - Can you disprove that he can?
Posted by guest , Oct 19, 2009 3:03PM
@17 the anecdote is from the 80s.
Posted by guest , Oct 19, 2009 3:14PM
I can see where being a Jew would be a drawback at "blue-blood Jewish firms, such as Goldman [Sachs]."
It's getting awfully close to D-Day for Sell-Out. Shouldn't excerpts be appearing in print form by now, or did Sorkin and Faber suck all the air out of this bubble already.
Posted by guest , Oct 19, 2009 4:04PM
Blaze that nugg,, he probs got it from the NY hookup delivery service
Posted by guest , Oct 19, 2009 4:05PM
Blaze that nugg,, he probs got it from the NY hookup delivery service
Posted by guest , Oct 19, 2009 4:05PM
Blaze that nugg,, he probs got it from the NY hookup delivery service
Posted by guest , Oct 19, 2009 4:06PM
Blaze that nugg,, he probs got it from the NY hookup delivery service
Posted by guest , Oct 19, 2009 4:29PM
@21-24, dood, your finger.