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."