August 8, 2007 |
I can’t take it anymore! I had every intention of not commenting about the Bear Stearns impolosion caused by their hedge funds, but James Cayne is a Wall Street Nero fiddling while his firm (Rome) burns to the ground! And rather than be a man and take responsibility for this debacle, he offers up one of his own, Warren Spector, for public ridicule and feeds him to the mob in the arena. The Wall Street Journal article the other day paints the picture with wonderful, rich dark tones …
Really? I can almost smell the stale cigar smoke, the whiff of which brings back the hazy memory of better times . But good times these are not and its time for a scape goat. Typical piss-poor management at it again. Now, granted, Spector is a capital jackass as well. Who the hell indulges himself to a bridge tournament while his business is in crisis? Simple, an out of touch plutocrat. Cayne deserves to be fired — and none too soon. My prediction — it’ll happen within another two weeks.
What do you think??bear stearns, crash, hedge funds, james cayne, private equity, subprime, warren spector