Bear CEO's Handling Of Crisis Raises Issues
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PostPosted: Thu, Nov 1 2007, 3:47 pm EDT    Post subject: Bear CEO's Handling Of Crisis Raises Issues Reply with quote
Bear CEO's Handling Of Crisis Raises Issues

Cayne on Golf Links, 10-Day Bridge Trip Amid Summer Turmoil
By KATE KELLY
November 1, 2007; Page A1

A crisis at Bear Stearns Cos. this summer came to a head in July. Two Bear hedge funds were hemorrhaging value. Investors were clamoring to get their money back. Lenders to the funds were demanding more collateral. Eventually, both funds collapsed.

During 10 critical days of this crisis -- one of the worst in the securities firm's 84-year history -- Bear's chief executive wasn't near his Wall Street office. James Cayne was playing in a bridge tournament in Nashville, Tenn., without a cellphone or an email device. In one closely watched competition, his team placed in the top third.
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http://online.wsj.com/article/SB119387369474078336.html
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