Cayne Says in 'In Retrospect' Leverage Was Too High at Bear Sterns
Yes Jimmy, all well and good... but you remember well the real play, don't you? Pedal to the metal and rack up as many bonus seasons as possible 'til the odometer blows. The schmucks will pay for it. Right Jimmy?
May 5 (Bloomberg) -- James “Jimmy” Cayne, the former chief executive officer of Bear Stearns Cos., said he believes leverage at the company was too high.
“In retrospect, in hindsight, I would say leverage was too high,” Cayne said today in testimony before a panel mandated by Congress to investigate the causes of the financial crisis.
