Former Bear Stearns boss Jimmy Cayne, who has died aged 87, is best known for leading his brokerage to near-collapse in 2008. But as richardbeales1 explains, the global financial crisis was a failure of entire systems, not a few individuals.
Jimmy Cayne, former chief executive of U.S. brokerage Bear Stearns, died on Dec. 28 aged 87.
Bear came close to collapse in 2008 as the global financial crisis unfolded, amid concerns over its balance sheet and trading losses. After receiving emergency funding it was sold to JPMorgan.James Cayne, former Chairman and CEO of Bear Stearns, testifies at hearing held by the Financial Crisis Inquiry Commission in Washington May 5, 2010.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Francisco 49ers QB Jimmy Garoppolo has torn UCL, fracture in right thumb, source says49ers quarterback Jimmy Garoppolo is dealing with what a source told ESPN's Adam Schefter was a torn ulnar collateral ligament of the right thumb, as well as a fracture in the same thumb, that he suffered in Thursday's loss to the Titans.
Read more »
Jimmy Garoppolo’s injured thumb may force 49ers to turn to Trey LanceIt may soon be rookie Trey Lance’s time to shine in San Francisco if starting quarterback Jimmy Garoppolo is unable to play Sunday due to injury.
Read more »
Fed: Biden considering former Fed governor Raskin for vice chair of supervision role - WSJAccording to an article published by the Wall Street Journal (WSJ), US President Joe Biden is considering nominating former Fed board of governors mem
Read more »
Asian shares rise, yen slides as traders shrug off Omicron fears and buy riskAsian shares edged higher on Tuesday, cruising in the slipstream of another record-setting day on Wall Street, while the safe-haven yen lost ground as traders stayed in riskier assets.
Read more »
Outlook 2022: Inflation, digital remain dominant forces in wealth managementInvestors are looking for big returns and stability in 2022, as confusion lingers on Wall Street amid rising inflation and COVID-19 infections.
Read more »