Skip to main content

Only Legacy That Former Bear Stearns Chief Cares About-- His Bridge Playing Legacy-- In Peril

Jimmy Cayne is devastated at the thought of having one of his bridge trophies taken away amid scandal.
  • Author:
  • Updated:

Say what you will about his tenure as Chairman and CEO of the investment bank-- honestly, it matters not to him-- but god damn it, the thought of his bridge-playing legacy being tarnished has left Jimmy Cayne absolutely sick. He didn't blow off board meetings and take three-week long vacations to attend bridge camp to watch his record as a card player flushed down the toilet!

As the financial crisis simmered, Bear Stearns Chief Executive Jimmy Cayne's love of bridge drew him away from the office at critical times. Eight years, a job departure and one whistleblower later, the cerebral card game is again causing him public headaches. Late in August, two of Cayne's teammates on the competitive bridge circuit, Lotan Fisher and Ron Schwartz, were accused of cheating, casting doubt on the legitimacy of a key tournament victory. A nasty fight has since erupted between the rival who made the allegations and the pair he is targeting. The 81-year-old Cayne, who fellow players say paid the accused players for their participation on his team, has offered to forfeit a long-sought championship title the group won if they are found culpable...Cayne, who was initially quiet about the allegations, apparently broke his silence on Sept. 7 with a post on put up by a friend, Steve Weinstein.

Former Bear CEO Jimmy Cayne at center of bridge scandal [NetNet]


Hedge Fund Manager Who Ripped Off Bear Stearns May Do 200 Years

Let this be a lesson to anyone hoping to avoid a couple centuries in prison-- nobody fucks with Jimmy Cayne's roach clip and gets away with it!

Getty Images

Jimmy Cayne Never Wanted To Be A Bank CEO Anyway

He’d much rather be bidding and tricking his way through the deck, and so he is.

Getty Images

Should Bear Stearns' CFO Not Have Told Investors Liquidity Was Rock Solid When Internally Telling Colleagues The Company Was As Dry As The God Damn Sahara?

It's almost as though "liquidity is very strong" and "we need more liquidity ASAP" aren't totally synonymous.