From $1 billion to $63 million!! Yikes!!!

[Orchidflower]

I got to wondering how it must feel to Chairman Cayne of Bear, Stears to go from a $1 billion dollars to $63 million dollars. Granted, he won't be missing any meals anytime soon; but, I just wonder how it feels to take that kind of bath in the market? Am I the only one here who is curious about that? (And, please God, do NOT let this happen to my petty ante (compared) amount in the markets.)

 

[Walt34]

Peel me a grape.

 

[Orchidflower]

Here's your peel me a grape set to music, too...Peel Me A Grape

 

[TickTock]

Another example of the benefits of diversification.

 

[ladelfina]

as long as he can keep up the golf club membership, bridge tournaments, and pay his pot dealer.. what's the diff?

 

[Notmuchlonger]

I just like that song Orchid posted

 

[chinaco]

That $63M more than he should get. The @$$h0!3 should be sued for incompetence or negligence.

 

[W2R]

Poor BABY!! Only 63 million. Whatever shall he do.

 

[Orchidflower]

This should really make you sick: he cashed out as he and the wifey just bought a place in the New York Plaza Hotel for $26Million. I cannot for the life of me understand spending that kind of money for a place to live when there are so many other ways to spend your money (and do a little good, too)...but that's just me. Maybe I just don't understand the uber rich.

That's Diana Krall singing "Peel Me a Grape." Isn't she great? Yeah!

 

[DblDoc]

Poor BABY!! Only 63 million. Whatever shall he do.

Learn to LBYM...

DD

 

[Independent]

It's not like he has to make do on a mere $61 million. He knew enough to take cash out along the way:

"Since 2000, Cayne has sold 2.37 million shares worth about $182.7 million, while Schwartz has sold more than one million shares for roughly $67.2 million."

If you add in the cash salary and cash portion of bonuses and the final $61 million, it seems certain that he totaled a quarter billion since 2000.

Bear Stearns execs sold some stock in December, data show - MarketWatch

And, as he was making this money, he (and a few other people like him) appear to have built a system so toxic that we couldn't let his company go through a normal bankruptcy because that would have led to a complete economic meltdown.
(I've expressed some skepticism about the "economic meltdown" prediction, but people who know a lot more about it than I do tell me that really would have happened.)