Wall Street's "uncontested top dog" go its own way of Bear Stearns.

<P> Last March, in St. Louis at the "North American Bridge Championships" (North American Bridge Championship), and Jimmy • Kane (Jimmy Cayne), or an idle prince of Wall Street. .</ P> <P> Before that, Bear Stearns (Bear Stearns) The rough edges and corners, cigar just become CEO of a billionaire on paper, since early last year when the investment bank where he .shares remain at near record high of $ 171.51. .Kane used to more and more time outside the office, at a bridge tournament in St. Louis, he's out of nearly 4,000 players in ranked 14th. .</ P> <P> year after the spring championships in Detroit, Kane once again proved himself in the bridge table. .But in New York, his home was about to bankrupt investment bank - to become non-executive chairman of this year, he has led the investment bank for 15 years. .</ P> <P> from March 13 to March 15, in just 3 days time, Bear Stearns $ 17,000,000,000 in cash reserves instant evaporation. .On the line facing rumors of lack of cash flow, leading to back their customers have requested a cash balance, including large hedge fund clients. .</ P> <P> creditors refused to roll on the short-term financing, while Bear Stearns has become very dependent on these short-term financing. .</ P> <P> rumors of lack of cash flow has finally become a reality. .An executive called this an "torrent," No one can escape. .</ P> <P> the situation on the Bear Stearns panic spreading at an alarming rate, with a lot of money continue to flow, the bank executives have become helpless. .</ P> <P> "Wall Street is no longer deal with them from the foreign exchange counterparty credit evaporate in an instant, the banks have withdrawn," Sanford Bernstein analyst Brad Hintz • (Brad Hintz), said ."Although this may seem strange, but there is no mode of recovery make transactions syncope and rebirth." </ P> <P> to that end of the week, Bear Stearns has gone bankrupt, and only rely on JP Morgan Chase (JPMorgan .Chase) and the Federal Reserve (Fed) in emergency financing to linger. .</ P> <P> In the meantime, Kane is still living in Detroit, with Bear Stearns executives or other board members to contact is very small. .A bridge tournament officials said Kane, 74 bridge can not leave the desk to call, even if he wanted to do no good. .Competition rules do not allow. .</ P> <P> Kane eventually returned to New York the week of the weekend, and appear in the Bear Stearns headquarters, but eventually led to $ 2 a share Bear Stearns sold to JP Morgan Chase in the relevant negotiations, he was almost .did not play any role. .The deal announced on the 16th. .</ P> <P> the negotiations on behalf of Bear Stearns is a senior investment banker Alan Schwartz • (Alan Schwartz) - two internal Bear Stearns hedge funds went bankrupt, Schwartz took over as the bank's chief .executives. .</ P> <P> that first led to the bankruptcy of two funds of the company • Co-President Warren Spector (Warren Spector) resigned in August 2007, and then Kane has also stepped down as CEO earlier this year .level. .</ P> <P> when the intense negotiations at the end of the night on the 15th, Kane's stock market value in Bear Stearns has gone from a year ago, more than one billion U.S. dollars fell to $ 14,000,000. .Kane and Bear Stearns declined comment. .</ P> <P>.