Where There Is Pot Smoke, There Is Ex Bear Stearns CEO Jimmy Cayne | Talking Points Memo

We tore through the first big Bear Stearns book this year, William Cohan’s House of Cards, in hopes of some substantiation of reports that the bank’s former CEO (and former billionaire; he’s now a “mere eight figure-aire) Jimmy Cayne liked to smoke weed. But Cohan skipped the issue entirely, as he had in a Fortune interview with Cayne last year. We might say we read those 468 pages in vain, except that we are not convinced marijuana played a significant role in the financial crisis, especially since the Cayne depicted and quoted by Cohan sounds more like an angry drunk than a stoner. Here’s an abridged version of his rant about then-New York Fed President Tim Geithner:

This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=142877