Stories tagged with Warren Spector
Bear’s Cayne holds cards close to vest
By A. James Memmott | November 1, 2007 at 2:28pm | 1 
In a classic fiddling-while-Rome-burns story, the Wall Street Journal traced the activities of James Cayne, the CEO of Bear Stearns Cos. this summer.
While units of Bear Stearns, an investment and banking powerhouse, were collapsing because of the credit crisis in the subprime mortgage market, Cayne was out of reach for hours at a time, the Journal reported Thursday.
Not surprisingly – he’s a CEO after all – Cayne was incommunicado at times on the golf course.
But at other times he was, hold on to your hats, playing bridge.
Mortgage mess sinks Wall Street exec
By Gary Jacobson | August 6, 2007 at 1:51pm | 0
The subprime mortgage mess claimed its first big Wall Street name Sunday as Bear Stearns forced out co-president Warren Spector.
Bear Stearns, which had two of its hedge funds collapse in June erasing more than $1.5 billion in capital, is a big player in bonds that back high-risk mortgages.
Spector, seen by some as the eventual successor to Bear Stearns CEO James Cayne, resigned. At a board meeting Sunday, directors determined that Alan Schwartz would be the sole president of the company.
