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Approving the J.P. Morgan deal
Approving the J.P. Morgan deal
James Dimon, CEO of JPMorgan Chase, struck a deal in March to acquire Bear Stearns for $10-a-share.
"I felt nothing. You got a bad grade on your test. That's it. No appeal. I felt sad for me and sad for my Bear Stearns family."

On March 15, Cayne voted along with rest of the Bear board for the now infamous $2-a-share stock deal with J.P. Morgan rather than allow the firm to be liquidated beginning Monday morning. He also voted for the revised $10-a-share deal a week later, likewise to avoid another serious threat of liquidation.

NEXT: Bear's implosion
Last updated August 04 2008: 10:37 AM ET
Full story: Cayne's rise and fall Last summer he was worth $1.6 billion on paper. Then he nearly died and Bear Stearns collapsed. (more)
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Cayne was at a loss All his usual instincts eluded him during the crisis preceding the firm's collapse. (more)video
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