"There is no more Wall Street." So says none other than Ace Greenberg to Bloomberg. You have to wonder what the 81 year old felt as he watched Bear Stearns, where he spent his career and eventually rose to CEO, implode at the hands of his one-time protege, Jimmy Cayne. Greenberg still ranks as one of the Grand Old Men of the industry and had many great interviews. Still, the market has become too volatile and too rowdy, to the point that mere rumors can fell a firm. That's not a sustainable model. In the end, Wall Street was destroyed by the very tools it created. It's a tough way for it all to end, but Greenberg's career is not over. He has accepted a position at JPMorgan Chase as vice chairman emeritus. Bloomberg reports he'll get a payout equal to 40 percent of the commission revenue he generates.

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End of an era: Bear Stearns passes away