Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • About Us
    • Contributors
  • Why We’re Different
  • Foundation Principles
  • Your Security
  • The Swiss Way
  • Investing
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Liberty & Freedom Map
  • Your Survival Guy
  • Your Health
  • Old Confederacy
  • The American Conservative
  • The Trump Economy
  • My Rifles

RIP Alan ‘Ace’ Greenberg

July 28, 2014 By Richard C. Young

Alan ‘Ace’ Greenberg, former CEO of Bear Stearns passed away on July 25. The Wall Street Journal writes:

Alan “Ace” Greenberg, the executive who helped turn Bear Stearns Cos. into one of the world’s biggest—and riskiest—securities firms, died of complications from cancer in New York on Friday at the age of 86.

Mr. Greenberg began his career at Bear Stearns in 1949 and rose through the ranks over many decades, taking over as chief executive in 1978 and running the New York firm until 1993, when he handed the reins to trusted associate James Cayne. An avid bridge player, Mr. Greenberg liked risk takers and found, in Mr. Cayne, a like-minded protégé.

Mr. Greenberg was raised in Oklahoma City and briefly attended the University of Oklahoma on a football scholarship. He brought an outsider’s sensibility to Wall Street. While rival investment banks such as Goldman Sachs Group Inc.GS -0.49% and J.P. Morgan JPM -0.27%fashioned themselves as white-shoe firms catering to the global elite, Bear Stearns was a scrappy upstart that often managed to out-hustle rivals on deals.

Bear Stearns became a symbol of the financial crisis when it nearly collapsed in March 2008 as clients grew concerned about the risky mortgage securities Bear had created, and pulled their money en masse. J.P. Morgan Chase & Co. bought the New York firm for $10 a share after initially striking a deal at $2.

The following two tabs change content below.
  • Bio
  • Latest Posts

Richard C. Young

Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.

Latest posts by Richard C. Young (see all)

  • Eastern European Millennials Shifting Right, Led by Hungary and France’s Rassemblement National. - February 22, 2019
  • A Prison Sentence for Former FBI Deputy Director Andrew McCabe? - February 21, 2019
  • Will Trump Reject the Neocon Case for Involvement in Iraq? - February 21, 2019

Related Posts

 

Our Most Popular Posts

  • The Curse of Obama Wreaked on Our Society
  • Republicans “Sabotaging” Green New Deal?
  • Are You Prepared for the New Money Crisis?
  • Unhinged Rep. Omar Embarrasses Congress with Questioning of Abrams
  • Ocasio-Cortez: Campaign of Gun Control, Multi-culturism and Open Borders
  • Stopping Drug Trafficking at the Border?
  • Do You Know this about Vanguard Wellington and Wellesley Funds?
  • “Sandy” aka AOC – Republicans Secret 2020 Weapon?
  • Do You Have What it Takes to be a Great One?
  • Buchanan: The Decline of Congress not a Recent Phenomenon

RSS Youngresearch.com

  • Europe Takes Aim at America’s Big Tech Companies with Copyright Demands
  • Americans Want to Leave Their High Tax States
  • National Right to Work Could Help States That Can’t Help Themselves
  • Surprise: Battery Powered Cars Don’t Work Well in Extreme Temperatures
  • Tyson Tries to End the Cycle
  • Democrats Sign on for $1.5 Trillion Tax Hike
  • What Do You Need to Do Before You Retire?
  • Walmart Shows Retailers How to Succeed
  • Happy Presidents Day!
  • Do You Have What it Takes to be a Great One?

Are You Prepared for the New Money Crisis?

Bernie Sanders’ Crushing Failure in Vermont

Eastern European Millennials Shifting Right, Led by Hungary and France’s Rassemblement National.

My March Rage Gauge: Take Inventory of Your Investment Life

Drugs, Child Trafficking, Disease at the Border: Pelosi “No Emergency”

A Prison Sentence for Former FBI Deputy Director Andrew McCabe?

Bernie Sanders Plan? Redistribution, not Retirement Savings

Copyright © 2019 | Terms & Conditions | About Us | Dick Young | Archives