Jimmy Cayne has better things to do than deal with silly Wall Street crises

The W$J has a big front-page story on Bear Stearns CEO James Cayne’s priorities: During 10 critical days of this crisis — one of the worst in the securities firm’s 84-year history — Bear’s chief executive wasn’t near his Wall Street office. James Cayne was playing in a bridge tournament in Nashville, Tenn., without a [...]

Explaining why we have a mortgage problem

I hesitate to share things that have already been shared by bloggers far more prominent than I (in this case Paul Kedrosky, who got it from Marc Andreessen), but this ITV comedy Q&A on the mortgage meltdown by John Bird and John Fortune is just too brilliant to pass up: The description of the typical [...]