Bear Stearns’ smoker-in-chief, Credit card issuers’ shafty new fees

GOOD DAY FOR: High finance, as former Bear Stearns CEO Jimmy Cayne tried to entice a potential hire by opening his desk drawer and bragging, “You should also know I get the best pot in New York City,” according to a new book by Charlie Gasparino. The other enticement was $40,000 a month plus commissions. (Dealbreaker)

BAD DAY FOR: Fiscal responsibility, as banks are starting to introduce new fees for activities such as not using your card for a certain period of time, and even for people who pay off their balance in full each month. The fees are part of the card industry’s response to legislation that takes effect in February and will restrict issuers’ ability to raise interest rates. (USA Today)

Monday: Good day for taking a big cut, Bad day for business casual

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up