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Write-Offs: 05.04.10

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$$$Cayne Said to Blame `Irrational' Market for 2008 Collapse of Bear Stearns “The market’s loss of confidence, even though it was unjustified and irrational, became a self-fulfilling prophecy,” Cayne said in written testimony to be presented to the Financial Crisis Inquiry Commission in Washington tomorrow, according to the person who declined to be identified since the remarks aren’t public until delivery. Cayne will also tell the panel his company had a “strong culture of risk management,” the person said. [Bloomberg]

$$$Citadel Senior Executive Has Left The Firm [WSJ]

$$$ If anyone has noticed the soaring share price of, it’s an easy bet that Canadian actor William Shatner had something to do with it. Unofficial word on Wall Street is that Shatner, who was initially paid in Priceline shares when he became pitchman for the Internet travel website startup in 1997, is now worth a cool $600 million. [Toronto Sun]

$$$Chanos Says Long-Term Government Bonds Are Bad Bet [BW]

$$$Bill Ackman: Let's Have a Public Registry for Stock Opinion [Barron's]