"But you can't play it. You can't play it. If anybody on Earth would have played it, it would have been me."
On Sunday morning, while the J.P. Morgan deal was being worked out, Cayne went out to breakfast at the Jackson Hole diner, at 91st Street and Madison Avenue, for a couple of eggs with
Vincent Tese, the billionaire chairman of Wireless Cable International and the lead independent director on Bear's board. The two had a frank discussion about the ramifications of
what Cayne called playing the "nuclear card" - threatening to file for bankruptcy.NEXT: Approving the J.P. Morgan deal