Bear Stearns (BSC) is considering replacing CEO Jimmy Cayne, CNBC reported on its website Wednesday, without naming sources. Last month, the Wall Street Journal posted a lengthy expose that ridiculed Cayne's lack of leadership during an August crisis that saw two Bear hedge funds collapse amid heavy losses and investor withdrawals. It accused him of frequent golf games and trips 
to bridge tournaments that left him out of touch during critical junctures, and said he sometimes smoked marijuana after bridge. (Cayne denied the accusations.)
There have been suggestions Cayne might relinquish his role to president Alan Schwartz, while retaining his role as chairman. Bear Stearns lost 1.6% in Tuesday trading.
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