Jim Cayne Can't Catch A Break: Bear Stearns Continues Losing Streak

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Last, week, when Bear Stearns seized the assets of its own hedge funds, some people scoffed. It seemed a little unjust that while investors had been told there was a grand total of zero dollars (or zero-ish dollars, depending on whether or not they put their money in the gigantically failing fund or the essentially gigantically failing fund) available for them, B.S. managed to wring out some value for itself.
For those feeling bitter, today we offer some vindication: on the same day the bank was seeing just how long it could ride the Screw our Investors Express, CEO James Cayne—CHAMPIONSHIP BRIDGE PLAYER AND CIGAR SMOKER JAMES CAYNE, whose “ascent has been a result of a [bridge] player’s guile”—was getting his ass handed to him at the card table. Mr. Cayne, the No. 2 seed in the American Contract Bridge League’s Summer North American Bridge Championships in Nashville, Tennesse, lost to the No. 15 seed. The score was 119 imps to 93. Cayne was presumably not cheating at the time.
A First-Time Winner in Bridge Event [NYT]

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