Given that Joseph Lewis, who now is the proud owner of 8 million Bear Stearns shares, has the gossip mills churning. The New York Post reports that Lewis is a good friend of CEO Jimmy Cayne. They even play bridge together. His modest upbringing makes him a good fit with Bear Stearns. The big question is whether he will agitate for change. Given that he is somewhat reclusive for a big investor, many doubt he will get on the activist soapbox. It may be that he saw a sorely devalued company that was likely to recover at some point. This may turn out to be a savvy move.  

For more:
- here's the Post article

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