TPM writes:
We tore through the first big Bear Stearns book this year, William Cohan's House of Cards, in hopes of some substantiation of reports that the bank's former CEO (and former billionaire; he's now a "mere eight figure-aire) Jimmy Cayne liked to smoke weed. But Cohan skipped the issue entirely, as he had in a Fortune interview with Cayne last year. We might say we read those 468 pages in vain, except that we are not convinced marijuana played a significant role in the financial crisis, especially since the Cayne depicted and quoted by Cohan sounds more like an angry drunk than a stoner. Here's an abridged version of his rant about then-New York Fed President Tim Geithner:
"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," he said. "Like he was the determining factor, and it's like a flea on his back, floating down underneath the Golden Gate Bridge, getting a hardon, saying, 'Raise the bridge.' This guy thinks he's got a big d**k. He's got nothing, except maybe a boyfriend. I'm not a good enemy. I'm a very bad enemy."
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