Jimmy Cayne is a homophobic asshole.

Cayne is the former CEO of Bear Stearns. Under his management, Bear Stearns was folded into JPMorgan for the bargain basement price of $2 a share (subsequently revised up to $10) back in March 2008 after it became unable to meet its short-term funding requirements and the Fed declined to step in. Evidently, Cayne feels that his firm would have been able to survive if only Timothy Geithner (then Chair of the New York Federal Reserve, currently Secretary of the Treasury) wasn't such a sexual deviant:

The audacity of that prick in front of the American people announcing he was deciding whether or not a firm of this stature and this whatever was good enough to get a loan. Like he was the determining factor... This guy thinks he's got a big dick. He's got nothing, except maybe a boyfriend. [F]or some clerk to make a decision based on what, your own personal feeling about whether or not they're a good credit? Who the fuck asked you? You're a clerk. Believe me, you're a clerk. I want to open up on this fucker, that's all I can tell you.

When you hear arguments that we can't impose executive pay caps on the banks because then they'll lose valuable talent, just remember that this is the sort of 'talent' they're talking about. (You can find the full story here. I've taken the liberty of un-bowdlerizing the quote.)

Posted at 11:16 on Sun, 19 Feb 2012 in category misc | Comments (0)