james-cayne

Just Like Tom Wolfe's Blues

Ryan Tate · 03/28/08 01:05AM

In Tom Wolfe's 1998 novel A Man In Full, big-time real estate developer Charlie Croker becomes a religious evangelical as his once-vast wealth dissolves. The same thing seems to be happening to Bear Stearns chairman and former CEO James Cayne, who played golf and bridge and maybe smoked pot as his firm crumbled, and whose horde of Stearns shares is now worth maybe one-twentieth its value a year ago. Cayne is selling all those shares. Like Croker, he considers such worldly possessions baggage and, to hear the Times tell it, is on the verge of some kind of spiritual awakening: