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.
Apparently Cayne, a conservative, never appreciated one-time Bear Stearns co-president Warren Spector, who JC felt didn't much care about his job, and who must've really not given a shit for the guy who took 3 month sabbaticals to attend bridge camp and spent most afternoons stoned to think was slacking on the job. Also, Cayne thought the guy to be a fruit, a suspicion he believed was confirmed by the spotting of Spector in shorts while he was in Florida volunteering for Obama.
Warren Spector was known inside Bear for his lack of emotion. Some, like Cayne, considered him moody and arrogant, a by-product of a privileged life (an upper-middle-class upbringing, a fancy MBA, and so on). Cayne was so disdainful of Spector’s attitude he used to refer to Spector as “Lord Fauntleroy.” Others who took a more nuanced view of Spector pegged his attitude as an indifference to his job; even while he was gambling billions of dollars of company money in esoteric bond markets, Spector acted as if he had better things to do, like read the Sunday Times book review.
But Spector was now legitimately excited to be working for the man he believed was going to be president [Spector went to canvas for Obama in Florida after leaving BSC], even if his post-Bear lifestyle was being mocked by Cayne, now Bear’s disgraced ex-CEO (in addition to allowing the firm’s risk taking to expand to dangerous levels under his watch as CEO, Cayne had been playing bridge while the firm was imploding in March 2008, when he still held the title of company chairman). Cayne, who had always incessantly questioned Spector’s manliness, was now having a field day as he received a report from a former Bear Stearns executive who said he had spotted Spector at a local country club in "tight, tight shorts with a poodle under his arm."