MONDAY AUGUST 06
Spector is Out

Warren Spector, a co-president of Bear Stearns and their head of stock and bond trading, resigned yesterday. Though, for Spector, it reportedly was not a "you can't fire me, I quit" situation. The New York Times reported that James Cayne, the CEO, asked for Spector's resignation, adding "I can’t work with you anymore.” Spector was said to be "blindsided" by the request. However, this news likely does not come as a shock to many people following Bear Stearns: Two of their hedge funds failed last month, and Spector's departure was predicted by almost every major news outlet over this past weekend.

August 2007

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