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HomeJimmy Cayne: A Man of Very Few Words
Posted by Larry Doyle on May 5th, 2010 2:05 PM |
Jimmy Cayne, Former CEO of Bear Stearns
I am currently watching the Financial Crisis Inquiry Commission’s questioning of former Bear Stearns executives Jimmy Cayne and Alan Schwartz. In their opening statements, both Cayne and Schwartz deflected their managerial responsibilities as reasons for the firm’s demise.
Although I have long held out Jimmy Cayne as an exceptionally arrogant and greedy individual, his current performance evokes a range of emotions on my part. On one hand, I see Cayne as somewhat disinterested. On the other hand, I actually feel a tad sympathetic for Jimmy Cayne as he comes across as a frail, almost broken man. His abbreviated answers connote a lack of full understanding and control of the issues.
FCIC Should Ask Bear Stearns Execs About EMC Mortgage
Posted by Larry Doyle on May 5th, 2010 12:04 PM |
Will America ever truly learn the full extent of fraudulently underwritten mortgages that lie at the foundation of our overall economic crisis?
Aside from a less than fully transparent hearing with executives from Washington Mutual, the Financial Crisis Inquiry Commission (FCIC) has not drilled down to fully expose the fraud within these mortgages. Former bank regulator William K. Black recently highlighted the pervasive nature of this fraud in an interview with Bill Moyers.
Why doesn’t the FCIC dig deeper to reveal which firms were involved with this activity? (more…)
