Items Tagged with 'James Cayne'


  • Bear Stearns Shareholders Approve JPMorgan Buyout

    And so it ended on Thursday morning, rather quietly, for one of Wall Street's largest mortgage-backed securities players. Bear Stearns Cos. investors approved JPMorgan & Chase Co.'s [stock JPM][/stock] $2.2 billion buyout of the once high-flying firm, with Bear chairman Jimmy Cayne facing investors and apologizing to shareholders -- many of them employees.
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  • Latest CEO to Go: Bear Stearns' Jimmy Cayne

    The mortgage mess has claimed another CEO from a major investment bank. The Wall Street Journal reports that embattled Bear Stearns CEO Jimmy Cayne will step down from his post as CEO of the Wall Street firm, but will retain his seat on the board. According to the WSJ report, Cayne is expected to be succeeded by the firm's president, Alan Schwartz, characterized by the newspaper as "an investment banker known for his deal-making savvy."
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  • WSJ: Bear Stearns Mortgage Funds Under Criminal Investigation

    Two mortgage-related funds that collapsed at Bear Stearns earlier this year amid the intial subprime credit meltdown are now the subject of a criminal investigation, the Wall Street Journal reported today. From the story: The U.S. attorney in Brooklyn has made a request to Bear Stearns for information related to the hedge funds, whose failure cost investors $1.6 billion, said these people. The probe is in the early stages, the people added, and has not generated subpoenas.
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