-
Banker blamed in 2008 financial crisis sues co-op for causing 'severe financial hardship'
Former Bear Stearns CEO James Cayne — the Wall Street exec whose “weak corporate governance” has been blamed in the 2008 financial crisis — is suing the board of his fancy co-op for causing him a “severe financial hardship” of his own. Cayne claims his co-op board at 501 Park Ave. has blocked him from selling his sixth-floor apartment, spitefully rejecting three potential buyers. The sprawling home inside the white-glove building went on the market in 2013 for $15 million — and has since tanked in price, dropping to $10 million. But Cayne’s Manhattan Supreme Court lawsuit claims that the board has been ... (full story)
