You think James Cayne and whoever he’s playing golf with today (maybe Ralph Cioffi, but who really knows) are having a good laugh over the fact that Merrill lost billions and Stan O’Neal is getting canned? A of all, because this is exactly the kind of thing that Cayne likes to laugh about (people losing their jobs, dogs being born with only three legs, feline leukemia) and B of all, because Merrill tried to get back at Bear this summer for telling Komansky to get lost during the LTCM bailout, by selling off its assets that were in the “enhanced” fund, hastening its ultimate collapse? Could be a stretch, but apparently the theory’s not too crazy for Rich Marin to blog about, which sources tell us he’s doing as we speak. And is it really that crazy to laugh, or at the very least send a few mean-spirited emails (which we’ll reprint later) out over the fact that the firm that tried to screw you for screwing it like a thousand years ago is now taking it up the tailpipe? The answer is no. Go on James Cayne. Today you have our blessing to yuk it up (but only because we’ll probably write something cruel though maybe entirely justified about you tomorrow. Starting with a possible involvement in SAC's ho'mone case, and a penchant for Kung Pao chicken, stories we're running with unless you call us before 5). Anyway, the rest of you, answer our question.