January 8, 2008

Cayne out as Bear Stearns CEO (AP)

This undated file photo provided by Bear Stearns Cos. shows chief executive James  E. 'Jimmy' Cayne.  Shares of Bear Stearns & Co. rose in premarket trading on Tuesday, Jan. 8, 2008, amid reports the investment bank's chief executive is stepping down.. (AP Photo/Bear Stearns Cos., file)AP – The collapse of the subprime mortgage market and ensuing credit crisis have claimed their latest casualty: the longest serving chief executive at any of the big Wall Street investment banks.

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