BUSINESS
04/01/2008 05:12 am ET | Updated May 25, 2011

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.


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