Bear Stearns

“I got crucified because I said you can keep your money in Bear Stearns. I got crucified in this country!!! I learned my lesson, you can’t be as confident as you’d like. I never said you should buy Bear Stearns, I said you should keep your money there. In 36 hours Bear Stearns fell apart. It was fine to say it wasn’t going to fall apart and then it fell apart. My first call was that it was okay to keep your money there which turned out to be true.” Read more »

She told clients in London. She also typed up a note. She even emailed it to herself. But she didn’t send it to anyone else, because after seeing how she’d moved markets with her Citi call and the magnificence of her influence, the idea of being responsible for putting Bear out of business made her hesitate. Read more »

When Bear Stearns went down for the dirt nap three years ago to the day (more on the anniversary later), many people assumed having the firm listed as a one-time employer on the résumé would be the equivalent of pulling a Merrill, i.e. it would make you categorically unemployable. Apparently these people had never heard of a guy named John Meriweather who, despite being forced to sign up investors for his latest fund down at the dog track, is proof positive that you can blow it or work for a place that (spectacularly) blows it and it will in no way affect your future prospects. According to Bloomberg and former BSC chairman Ace Greenberg, most Bear execs have “landed on their feet.” Read more »

Mary Sadrakula, pictured in both the glamour shot and mugshot at left, is a New Jersey councilwoman and a managing director at Cowen and Company. If colleagues have noticed that it seems like her head’s been in another place lately, it probably has, given that, in the last two weeks, she’s been charged with 1) assaulting her sister and 2) trying to cover up the incident. Why would a grown woman resort to physical violence- which included a punch so hard it broke a nose- toward anyone, let alone her own blood? According to the abused, it’s because Mary had an issue with the fact that her sis “is thin.” Read more »

  • 02 Mar 2011 at 9:15 AM

Ed Burns To Portray Out Of Work Bear Stearns Employee

HBO has announced the Entourage creator Doug Ellin will produce a new ensemble show featuring four 40 year-old friends living in New York. Among them: “a rich metrosexual,” “a ripped personal trainer,” “a schlumpy neurotic married guy” and a former Bear Stearns exec who made $2 million a year and has now been out of work for almost 12 months, played by Ed Burns. Jimmy Cayne has presumably been asked to consult on the project, but if anyone else has some tips for Burns on how to make this character as real a possible, please share them at this time. [Deadline]

Just messing, of course. Here’s how Nicolas Smith referred to SACO 2006-8 in an email to Keith Lind, an MD on the Bear trading desk, according to a lawsuit by Ambac Assurance Corp against Bear and JPMorgan that was unsealed last week: “It’s a SACK OF SHIT…I hope your [sic] making a lot of money off this trade.” [The Atlantic]

But he didn’t want to hear it because he couldn’t bear the thought of letting her go. So she barged into his office at 6AM one day and made him face is fears. Read more »

As you may have heard, Charlie Gasparino’s latest book is out October 5. It’s called “Bought And Paid For: The Unholy Alliance Between Barack Obama and Wall Street.” As you may have also heard, Jimmy Cayne is a major fan of describing every one of his opponents as a homosexual. The former Bear Stearns CEO told William Cohan Tim Geithner was a glorified gay office clerk and he described the lawyer of an an investor who sued Bear Stearns in 1996 for negligence and a breach of fiduciary duty as “a 300-pound fag from Long Island,” who Cayne confronted in the bathroom of the courthouse, while he was taking a piss, by saying “Today you’re going to get your ass kicked, big” (the attorney ran out of the room, confirming JC’s suspicions he was a fairy boy). Where does “the unholy alliance between Barack Obama and Wall Street” and conservative Jimmy Cayne’s interest in what other men do with their dicks converge? In Charlie Gasparino’s fourth contribution to literature and understanding, of course. Read more »