Professor Elam

James Cayne, Bear Stearns Chairman, sold $61.3 M in stock this week.   He and his wife waited until the price rose from $02 to $10+.  He remains Chairman. Question, why isn’t he required to put that money back in the pot for the employees, investors, or the FED that is rescuing the firm. It was his decisions that got the firm to this point.

Look for more calls for ‘regulation’ as a result of this sort of fiasco.  BSC goes bust, Chair makes millions, what’s wrong with this picture? I am pretty sure he obtained the shares via options paying little or nothing for them.

Here  is another take on rescuing Wall Street but not the Little Guy. I expect, and rightly so, that the Dems will make this a huge bone of contention in the election, well assuming they can pick a candidate.