We’re wondering how Jimmy Cayne’s feeling about the near collapse and $2 sale of the bank he chairs, not to mention the hit to his personal wealth.
Cayne, who in January stepped down as Bear Stearns’ long-time chief executive, at least took the call this evening when Reuters rang his Park Avenue residence. He wasn’t in a chatty mood though. “I’m not talking to reporters. I’m sorry,” was the reply.
Cayne may be regretting the recent $27.5 million purchase he and his wife made of two appartments at the Plaza on Madison Avenue, which seem a bit of a splash out considering Bear’s stock collapse. Cayne owns or controls about 7 million shares of Bear Stearns, worth about $14 million at $2 a share. A year ago, that stake would have been worth about $1 billion.
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