A Pair of Nines Wins $8 Million; Ex-Bear Stearns Banker Lose

Joe Cada, a 21-year old dropout from Michigan's Macomb Community College, became the youngest winner ever at the World Series of Poker. His winning hand, a pair of nines, won him the No-Limit Texas Hold ‘Em world championship as well as $8.55 million in prize money. Second-place went to a self-employed logger from Maryland, Darvin Moon, who pocketed $5.2 million, while sixth place went to a former Bear Stearns banker named Steven Begleiter, who took home $1.59 million. Begleiter's run toward the World Series championship is profiled here by Bloomberg. He worked at Bear for a quarter of a century, most recently as head of corporate strategy.