Dethroned Bear Stearns CEO Needs Armed Bodyguard

From today's New York Post:

Anger has reverberated all week throughout the gloomy Madison Avenue offices, where dethroned chief Jimmy Cayne has walked around with an armed bodyguard.

Starting Monday, when embittered and dazed employees arrived for their first day of work since learning their firm blew up along with the company piggy bank, Cayne's armed hulk of a bodyguard trailed him everywhere and parked himself outside Cayne's office all day, sources said.

Some employees say they're furious at the 74-year-old Cayne for going to bridge tournaments during the week the firm crumbled. Cayne is said to be quietly helping British shareholder, Joe Lewis, drum up another suitor for the firm at a much higher price than Dimon's bargain basement deal as low as $2 a share.

Keep Reading...

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Read more about JP Morgan's sweetened deal for Bear Stearns.

Comments

[smokeystover39]

Lets say there was a B/S employee - 65+ years old, 30 years of service and 401K'd up the kazoo with B/S stock and getting ready for retirement on 3/31/08. Then bloody Sunday takes place and he's got nothin on Monday. As a jury member which way would you vote if the guy whacked a few bloated cats on executive row? Tough call - Huh? Save the markets, save the firm???? - how about saving the worker bees or is that too much to ask from Bu$hCo?

[GoBamaGo]

is this true?

[GoBamaGo]

if i enter "nothing is new

[GoBamaGo]

nothing is new

[GoBamaGo]

nothing is blue

[abbiehoffmansghost]

Anybody got a .50 caliber Barrett I can borrow?

[plages]

He'd better do some hiding on his $ 200 million dollar skiff! There again, what was stated in the movie, The Vikings, ramming speed!

[incontempt]

You would think he was a Bush appointee with his failures.

[outnow]

Someone said, "I'm from the government and I'm here to help you."

[totaldisbelief]

I'm only surprised more CEOs and Politicians don't have full time armed guards covering their rich fat asses 24/7

[TXfemmom]

He went to bridge tournaments while the business was crumbling? He must have attended the same management school as Bush, Cheney, and Condi Rice.

[bushmocker]

I think the justice system should take pity and provide free protective custody.......for about 20yrs.

[peterg76]

So, there can be consequences after all.

[Stretchumall]

Why is he even Able to Afford private security?

[wmbear]

I can't, er, bear this any more. This should be a stern warning to capitalists everywhere. (Sorry.)