james cayne
Posted on March 17, 2008, 10:01 amby admin
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A classic example of the principal-agent problem: Last year, when he was still chief executive of Bear Stearns Cos., James Cayne took heat for hitting the bridge circuit during troubled times for his firm...Thursday and today, as Bear fought off a pending cash crisis that threatened to ruin its business, Mr. Cayne ?? who relinquished his CEO title in January and become the firm??s non-executive chairman ?? has been in Detroit, playing in the North American Bridge Championship. ...The playing
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By ANDREW ROSS SORKIN Published: March 17, 2008 In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere 2 a share to buy all of Bear ?? less than one-tenth the firm??s market price on Friday. As part of the watershed deal, JPMorgan and the Federal Reserve will guarantee the huge trading obligations of the troubled firm, which was driven to the brink of bankruptcy by what amounted to a run on the bank. Reflecting Bear??s dire straits, JPMorgan agreed to p
royaldutchshellplc.com
To loosen up the markets where liquidity is a problem, particularly following the collapse of Bear Stearns stock, the U.S. Federal Reserve has earmarked 400 billion in funds which it will use to do things like guarantee otherwise dubious investments, such as sub-prime related loans. It seems unlikely to acquire much of material value in exchange, beyond some hearty gratitude from a few major campaign contributors who would otherwise be facing the consequences of their reckless investment decis
www.snowbooks.com
FINTAG COMMENT The rooster is roosting. Events are happening quickly. Having raised our concerns about Bear Stearns since last August, we were treated once more to "its all fine" and as predicted "we are screwed" within the space of 4 days. It took Citi 10 weeks to admit it had lied. This is the problem. Nobody knows how bad it really is. I am scared and so should you be. Although Bear have been the butt of many an unfunny joke, I never thought this would happen. I recall joking with lawyers a
fintag.com
Dollar index through the floor at 70.872, ??96.45, the Euro buys 1.59. These are monstrous moves. J.P. Morgan is "buying" Bear Stearns for 2/share, down from 30 at Friday's close, or from 57! on Thursday. They're basically buying it for the cost of the Bear Stearns headquarters building. The Fed also cut the overnight rate by a quarter percent, expanded its lending pool again, and has guaranteed J.P.Morgan against losses via 30 billion in "financing" of Bear Stearns's "less liquid assets.
solarbird.livejournal.com
Friday morning Jim Cayne got to his office at Bear Stearns, flipped the switch and the lights did not come on. Despite all the assurances from the chief over the last two weeks, one of the world's largest investment banks was out of money. Cayne started scrambling, calling around the corner to JP Morgan, and got Ben Bernanke on the phone. As all this was going down, and the stock market tumbled, the Decider was a few blocks away at the Economic Club doing some chipper cheerleading, warnin
girlinshortshorts.blogspot.com
I never cease to be amazed at the incredible arrogance of the under-taxed and over pampered rich here in the US. On Friday Bear Sterns almost went down the shitter. It lost nearly 6 billion in less than five minutes. It was saved - temporarily in my opinion - my a massive input of money from JP Morgan and the Federal Reserve... Which means it's MY FUCKING MONEY! What I don't get is why can't we just let the bastards fail? I'll tell you why... While all this shit was hitting the fan, the New Yo
adscam.typepad.com
Writes Brett Eastman: "With regard to your blogpost about Bear Stearns, I think it is particularly apt that it's this bank which is the first major one to fall. "Its chairman, James Cayne, is a long time GOP donor and...
www.lewrockwell.com
Part 1 was here. Daniel Gross writes in Slate about the ???Rise of American Incompetence.??? The dollar plunged to new lows against foreign currencies this week. There are plenty of reasons for its plunge, but at the most basic level, the dollar??s weakness reflects the world??s collective, two-thumbs-down verdict about the ability of the United States??businesses, individuals, the government, the Federal Reserve??to manage the global financial system and the world??s largest economy. Countries that
donklephant.com
"Its chairman, James Cayne, is a long time GOP donor and its two top economists, David Malpass and John Ryding, as well as former Bear economist Larry ...
www.lewrockwell.com
SOLD! for 2/share. I can hardly wait to see Larry Kudlow mouth, "The Greatest Story Never Told", tomorrow. It's all darkly humorous, until you realize that it's pretty bleak to have a financial services sector with a giant, transparent aluminum albatross around its neck still ... I have yet to read a news story that really tells the tale of what is going on. So far, it's "losses tied to subprime". At that level of detail, it's sort-like saying, "Shh. Cancer." or worse, "Shh. Meningitis"
bootstrappingas.blogspot.com
Bear Stearns Chairman James Cayne, who stepped down as chief executive in January amid criticisms by some investors that he was too hands-off when the ...Lewis, Barrow Hanley Lose Combined 2 Billion on Bear Stakes Bloomberg
online.wsj.com
Bear Stearns president and CEO, Alan Schwartz, was recently noted as saying that the ???liquidity position of the securities firm has not changed at all??? on a recent CNBC appearance. The reaction to the rumors about the firm??s liquidity and ability to fund its business came only a day after the resignation of Bear Stearns Director, Henry S. Bienen. The stock has been down by over 40% today, and it??s taking everyone down with it. During the conference call, one Bear Stearns executive discussed
www.derrich.com
Joe Lewis bought a total of 8.1 Mn. shares in Bear Stearns closed Sept 8th NYSE US107.50 which makes him the biggest shareholder after founder James Cayne 5.8% and Putnam Investment Management . Joe, 70 next birthday, who seems to have missed out on a knighthood, or even a baronetcy is a native Londoner but spends most of his time running his 140 company plus empire from the poolside . He
postmanpatel.blogspot.com
After going public in 1985, James Cayne became chief executive in 1992 and adopted a more cautious approach. However he was unable to avoid the negative ...
www.telegraph.co.uk
The firm??s biggest individual holder, former CEO and current Chairman, James Cayne, holds 5.61 million shares. As of the end of February, that was worth ...The Sad History of Bear Stearns?? Conference Calls Wall Street Journal
blogs.wsj.com
And you thought it was bad on Friday when the Fed gave Bear Stearns 200,000,000 of our money. Today -- a Sunday! -- they gave J.P. Morgan 30 billion, yes, 30,000,000,000 of our money to subsidize a deal to take over Bear Stearns. Public money for a private buyout. To protect the shareholders. You know the Bushies's aren't going to go back and, I don't know, bankrupt the morons who drove the company into bankruptcy. That might interrupt their time at the country club, or at the bridge tables:
mainstusa.blogspot.com
It was headed for many years by the famed Alan "Ace" Greenberg and in recent years by his handpicked successor, James Cayne. But although Bear Stearns ...Risk-taker submits to its rival Los Angeles Times
www.latimes.com
In January, Bear Stearns announced the resignation of its Chief Executive James Cayne after the firm lost billions in the mortgage meltdown. ...Bear Stearns Says Bailout Bridge To A More Permanent Solution RTT News
www.forbes.com
This week we learned that... ... You just can't take models anywhere. ... Frank Gehry is about as Brooklyn as a two-four of Molson. Curbed ... Those drunken jackasses yelling outside your place on Rivington Street? They're probably not going anywhere. TONY via Gawker ... Toll Brothers shareholders apparently haven't been watching the company's performance too closely. NY Times ... The reason you lost your house is because a couple of academics didn't know what they were talking abo
blogs.nypost.com
In January chief executive James Cayne resigned. Though it is the smallest of Wall Street??s big five investment banks, it is still a significant player, ...
www.timesonline.co.uk
For years, Jamie Dimon, the chief executive of JPMorgan, and James Cayne, his former counterpart at Bear Stearns, could see each other from their executive ...Frantic race to save Wall Street giant The Age
www.timesonline.co.uk
Writes Brett Eastman: "With regard to your blogpost about Bear Stearns, I think it is particularly apt that it's this bank which is the first major one to fall. "Its chairman, James Cayne, is a long time GOP donor and...
www.lewrockwell.com
To say we live in interesting times is an understatement. Yet another national bank -- this time the Federal Reserve Bank of New York -- comes to the rescue of the 5th largest investment bank in the United States, Bear Sterns. To be exact, funds are being loaned to JPMorgan Chase who will then lend this undisclosed sum of money to Bear Stearns to help the company stay in business. However, should the company default or worse yet go out of business, all the risk rest solely with the Fed. Basical
www.barzey.com
Longtime CEO James Cayne, who was seen by some investors as too hands-off when the mortgage mess unfolded, stepped down in January, though he remained ...
online.wsj.com
The Wall Street Journal headlined today&39s coverage of the hit taken by Lewis and American stake-holders such as James Cayne and Bruce Sherman, ...
www.thefirstpost.co.uk
Okay, so the Bear Stearns deal is done. JP Morgan puts up 270 or maybe 236 million in stock--a price which Yves Smith notes is about one quarter the value of Bear's headquarters building link. The Feds go on the hook for 30 billion as a "special lending facility," heh heh, i.e., a ???non-recourse facility to manage up to 30B +/- of illiquid assets, largely mortgage-related??? link. JP Morgan gets the equity in Bear Stearns. The Feds get--ah, let me get back to you on that The magic word,
underbelly-buce.blogspot.com
All these stories about the purchase price of Bear Stearns??it's being bought, supposedly, for 2 a share, for a total cost of 270 million??are wrong in a fundamental way, I think. JPMorgan Chase also gets the building with the company, because Bear Stearns owns it, as was noted in the conference call tonight. That building, 383 Madison??47 floors, built by SOM??is said by the Federal Reserve as part of their bailout to be worth 1.2 billion. And it's gotta be worth more. The MetLife building s
choiresicha.com
Daniel Gross writes in Slate about the "Rise of American Incompetence." The dollar plunged to new lows against foreign currencies this week. There are plenty of reasons for its plunge, but at the most basic level, the dollar's weakness reflects the world's collective, two-thumbs-down verdict about the ability of the United States??businesses, individuals, the government, the Federal Reserve??to manage the global financial system and the world's largest economy. Countries that outsourced their mon
sidewaysmencken.blogspot.com
Well, let's put it this way: When you're in the banking business and most everybody has lost confidence in both the quality of your assets and your ability to maintain adequate liquidity, it's not exactly a good situation. Bear Stearns has been in precarious shape for many months now - you might recall that two of its hedge funds came apart because of subprime-related exposure - but concern turned into crisis in just the past 24 hours. It's always hard to trace the origins of these things, espe
www.laobserved.com
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rupert everett
copy of declaration of independence
christina milian lyrics am to pm
constitutional convention wiki
william henry harrison
2gether video
flypaper studio inc
s p futures cnn
Playing Bridge While The Ship Sinks
A classic example of the principal-agent problem: Last year, when he was still chief executive of Bear Stearns Cos., James Cayne took heat for hitting the bridge circuit during troubled times for his firm...Thursday and today, as Bear fought off a pending cash crisis that threatened to ruin its business, Mr. Cayne ?? who relinquished his CEO title in January and become the firm??s non-executive chairman ?? has been in Detroit, playing in the North American Bridge Championship. ...The playing
borjas.typepad.com
raquel welch
funny quotes
ted kairys
hockey east championship tickets
polls/rankings
executive assistant training
scopist salary
THE NEW YORK TIMES: JP Morgan Pays 2 a Share for Bear Stearns
By ANDREW ROSS SORKIN Published: March 17, 2008 In a shocking deal reached on Sunday to save Bear Stearns, JPMorgan Chase agreed to pay a mere 2 a share to buy all of Bear ?? less than one-tenth the firm??s market price on Friday. As part of the watershed deal, JPMorgan and the Federal Reserve will guarantee the huge trading obligations of the troubled firm, which was driven to the brink of bankruptcy by what amounted to a run on the bank. Reflecting Bear??s dire straits, JPMorgan agreed to p
royaldutchshellplc.com
U.S. Economy
To loosen up the markets where liquidity is a problem, particularly following the collapse of Bear Stearns stock, the U.S. Federal Reserve has earmarked 400 billion in funds which it will use to do things like guarantee otherwise dubious investments, such as sub-prime related loans. It seems unlikely to acquire much of material value in exchange, beyond some hearty gratitude from a few major campaign contributors who would otherwise be facing the consequences of their reckless investment decis
www.snowbooks.com
THE FINTAG NEWSLETTER 17 March 2008
FINTAG COMMENT The rooster is roosting. Events are happening quickly. Having raised our concerns about Bear Stearns since last August, we were treated once more to "its all fine" and as predicted "we are screwed" within the space of 4 days. It took Citi 10 weeks to admit it had lied. This is the problem. Nobody knows how bad it really is. I am scared and so should you be. Although Bear have been the butt of many an unfunny joke, I never thought this would happen. I recall joking with lawyers a
fintag.com
Oh, they didn't like that...
Dollar index through the floor at 70.872, ??96.45, the Euro buys 1.59. These are monstrous moves. J.P. Morgan is "buying" Bear Stearns for 2/share, down from 30 at Friday's close, or from 57! on Thursday. They're basically buying it for the cost of the Bear Stearns headquarters building. The Fed also cut the overnight rate by a quarter percent, expanded its lending pool again, and has guaranteed J.P.Morgan against losses via 30 billion in "financing" of Bear Stearns's "less liquid assets.
solarbird.livejournal.com
Just Let Bear Stearns Die
Friday morning Jim Cayne got to his office at Bear Stearns, flipped the switch and the lights did not come on. Despite all the assurances from the chief over the last two weeks, one of the world's largest investment banks was out of money. Cayne started scrambling, calling around the corner to JP Morgan, and got Ben Bernanke on the phone. As all this was going down, and the stock market tumbled, the Decider was a few blocks away at the Economic Club doing some chipper cheerleading, warnin
girlinshortshorts.blogspot.com
The economy is in great shape... Well, it must be, the "Decider" said so!
I never cease to be amazed at the incredible arrogance of the under-taxed and over pampered rich here in the US. On Friday Bear Sterns almost went down the shitter. It lost nearly 6 billion in less than five minutes. It was saved - temporarily in my opinion - my a massive input of money from JP Morgan and the Federal Reserve... Which means it's MY FUCKING MONEY! What I don't get is why can't we just let the bastards fail? I'll tell you why... While all this shit was hitting the fan, the New Yo
adscam.typepad.com
Bear Sterns: How Apt
Writes Brett Eastman: "With regard to your blogpost about Bear Stearns, I think it is particularly apt that it's this bank which is the first major one to fall. "Its chairman, James Cayne, is a long time GOP donor and...
www.lewrockwell.com
Why Obama Will Win: Part 2
Part 1 was here. Daniel Gross writes in Slate about the ???Rise of American Incompetence.??? The dollar plunged to new lows against foreign currencies this week. There are plenty of reasons for its plunge, but at the most basic level, the dollar??s weakness reflects the world??s collective, two-thumbs-down verdict about the ability of the United States??businesses, individuals, the government, the Federal Reserve??to manage the global financial system and the world??s largest economy. Countries that
donklephant.com
Bear Sterns: How Apt - Lew Rockwell
"Its chairman, James Cayne, is a long time GOP donor and its two top economists, David Malpass and John Ryding, as well as former Bear economist Larry ...
www.lewrockwell.com
Bear Stearns - Not Even Worth the Building - Mwa ha ha!
SOLD! for 2/share. I can hardly wait to see Larry Kudlow mouth, "The Greatest Story Never Told", tomorrow. It's all darkly humorous, until you realize that it's pretty bleak to have a financial services sector with a giant, transparent aluminum albatross around its neck still ... I have yet to read a news story that really tells the tale of what is going on. So far, it's "losses tied to subprime". At that level of detail, it's sort-like saying, "Shh. Cancer." or worse, "Shh. Meningitis"
bootstrappingas.blogspot.com
A Stake Through the Heart - Wall Street Journal
Bear Stearns Chairman James Cayne, who stepped down as chief executive in January amid criticisms by some investors that he was too hands-off when the ...Lewis, Barrow Hanley Lose Combined 2 Billion on Bear Stakes Bloomberg
online.wsj.com
Bear Stearns Takes It In The Vault After Conference Call
Bear Stearns president and CEO, Alan Schwartz, was recently noted as saying that the ???liquidity position of the securities firm has not changed at all??? on a recent CNBC appearance. The reaction to the rumors about the firm??s liquidity and ability to fund its business came only a day after the resignation of Bear Stearns Director, Henry S. Bienen. The stock has been down by over 40% today, and it??s taking everyone down with it. During the conference call, one Bear Stearns executive discussed
www.derrich.com
Bear Stearns shares crash 42% - Joe Lewis has lost US600 Mn.
Joe Lewis bought a total of 8.1 Mn. shares in Bear Stearns closed Sept 8th NYSE US107.50 which makes him the biggest shareholder after founder James Cayne 5.8% and Putnam Investment Management . Joe, 70 next birthday, who seems to have missed out on a knighthood, or even a baronetcy is a native Londoner but spends most of his time running his 140 company plus empire from the poolside . He
postmanpatel.blogspot.com
Bear Stearns built its reputation as a risk taker - Telegraph.co.uk
After going public in 1985, James Cayne became chief executive in 1992 and adopted a more cautious approach. However he was unable to avoid the negative ...
www.telegraph.co.uk
Bear Fortunes Up in Smoke - Wall Street Journal
The firm??s biggest individual holder, former CEO and current Chairman, James Cayne, holds 5.61 million shares. As of the end of February, that was worth ...The Sad History of Bear Stearns?? Conference Calls Wall Street Journal
blogs.wsj.com
Fed Shoveling Our Money To Thieving Banks
And you thought it was bad on Friday when the Fed gave Bear Stearns 200,000,000 of our money. Today -- a Sunday! -- they gave J.P. Morgan 30 billion, yes, 30,000,000,000 of our money to subsidize a deal to take over Bear Stearns. Public money for a private buyout. To protect the shareholders. You know the Bushies's aren't going to go back and, I don't know, bankrupt the morons who drove the company into bankruptcy. That might interrupt their time at the country club, or at the bridge tables:
mainstusa.blogspot.com
With markets on edge, Fed takes urgent action to calm investors - Los Angeles Times
It was headed for many years by the famed Alan "Ace" Greenberg and in recent years by his handpicked successor, James Cayne. But although Bear Stearns ...Risk-taker submits to its rival Los Angeles Times
www.latimes.com
Bear Stearns In Crisis - Forbes
In January, Bear Stearns announced the resignation of its Chief Executive James Cayne after the firm lost billions in the mortgage meltdown. ...Bear Stearns Says Bailout Bridge To A More Permanent Solution RTT News
www.forbes.com
The weekly wrap-up
This week we learned that... ... You just can't take models anywhere. ... Frank Gehry is about as Brooklyn as a two-four of Molson. Curbed ... Those drunken jackasses yelling outside your place on Rivington Street? They're probably not going anywhere. TONY via Gawker ... Toll Brothers shareholders apparently haven't been watching the company's performance too closely. NY Times ... The reason you lost your house is because a couple of academics didn't know what they were talking abo
blogs.nypost.com
Bear Stearns: the banking twister heading your way - Times Online
In January chief executive James Cayne resigned. Though it is the smallest of Wall Street??s big five investment banks, it is still a significant player, ...
www.timesonline.co.uk
The week of crisis that made Wall Street turn its back on Bear Stearns - Times Online
For years, Jamie Dimon, the chief executive of JPMorgan, and James Cayne, his former counterpart at Bear Stearns, could see each other from their executive ...Frantic race to save Wall Street giant The Age
www.timesonline.co.uk
Bear Sterns: How Apt
Writes Brett Eastman: "With regard to your blogpost about Bear Stearns, I think it is particularly apt that it's this bank which is the first major one to fall. "Its chairman, James Cayne, is a long time GOP donor and...
www.lewrockwell.com
America's Northern Rock
To say we live in interesting times is an understatement. Yet another national bank -- this time the Federal Reserve Bank of New York -- comes to the rescue of the 5th largest investment bank in the United States, Bear Sterns. To be exact, funds are being loaned to JPMorgan Chase who will then lend this undisclosed sum of money to Bear Stearns to help the company stay in business. However, should the company default or worse yet go out of business, all the risk rest solely with the Fed. Basical
www.barzey.com
Fed Races to Rescue Bear Stearns In Bid to Steady Financial System - Wall Street Journal
Longtime CEO James Cayne, who was seen by some investors as too hands-off when the mortgage mess unfolded, stepped down in January, though he remained ...
online.wsj.com
Joe Lewis loses ??1bn in Bear Stearns collapse - First Post
The Wall Street Journal headlined today&39s coverage of the hit taken by Lewis and American stake-holders such as James Cayne and Bruce Sherman, ...
www.thefirstpost.co.uk
Why Didn't the Feds Just Buy Bear Stearns?
Okay, so the Bear Stearns deal is done. JP Morgan puts up 270 or maybe 236 million in stock--a price which Yves Smith notes is about one quarter the value of Bear's headquarters building link. The Feds go on the hook for 30 billion as a "special lending facility," heh heh, i.e., a ???non-recourse facility to manage up to 30B +/- of illiquid assets, largely mortgage-related??? link. JP Morgan gets the equity in Bear Stearns. The Feds get--ah, let me get back to you on that The magic word,
underbelly-buce.blogspot.com
Bear Stearns Actually Was Given Away
All these stories about the purchase price of Bear Stearns??it's being bought, supposedly, for 2 a share, for a total cost of 270 million??are wrong in a fundamental way, I think. JPMorgan Chase also gets the building with the company, because Bear Stearns owns it, as was noted in the conference call tonight. That building, 383 Madison??47 floors, built by SOM??is said by the Federal Reserve as part of their bailout to be worth 1.2 billion. And it's gotta be worth more. The MetLife building s
choiresicha.com
Why Obama Will Win - Part 2
Daniel Gross writes in Slate about the "Rise of American Incompetence." The dollar plunged to new lows against foreign currencies this week. There are plenty of reasons for its plunge, but at the most basic level, the dollar's weakness reflects the world's collective, two-thumbs-down verdict about the ability of the United States??businesses, individuals, the government, the Federal Reserve??to manage the global financial system and the world's largest economy. Countries that outsourced their mon
sidewaysmencken.blogspot.com
Bear Stearns on last legs?
Well, let's put it this way: When you're in the banking business and most everybody has lost confidence in both the quality of your assets and your ability to maintain adequate liquidity, it's not exactly a good situation. Bear Stearns has been in precarious shape for many months now - you might recall that two of its hedge funds came apart because of subprime-related exposure - but concern turned into crisis in just the past 24 hours. It's always hard to trace the origins of these things, espe
www.laobserved.com