Go Back   English Forum Switzerland > Living in Switzerland > Swiss politics/news  
Reply
 
Thread Tools Display Modes
  #1  
Old 18.12.2008, 23:00
Junior Member
 
Join Date: Apr 2008
Location: SC,USA
Posts: 39
Groaned at 0 Times in 0 Posts
Thanked 45 Times in 24 Posts
Bacho has made some interesting contributions
Credit Suisse to Use Illiquid Assets to Pay Bonuses

This is pretty funny - reward execs with their own funny money!

http://www.bloomberg.com/apps/news?p...qcs&refer=home

Quote:
Credit Suisse Group AG’s investment bank has found a new way to reduce the risk of losses from about $5 billion of its most illiquid loans and bonds: using them to pay employees’ year-end bonuses. The bank will use leveraged loans and commercial mortgage- backed debt, some of the securities blamed for generating the worst financial crisis since the Great Depression, to fund executive compensation packages, people familiar with the matter said. The new policy applies only to managing directors and directors, the two most senior ranks at the Zurich-based company, according to a memo sent to employees today.

...
Reply With Quote
  #2  
Old 16.01.2009, 11:45
kenty10's Avatar
Newbie 1st class
 
Join Date: Jul 2008
Location: meilen, zurich
Posts: 12
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
kenty10 has no particular reputation at present
Re: Credit Suisse to Use Illiquid Assets to Pay Bonuses

genius idea, all the banks shud do it.
Reply With Quote
Reply

Tags
bank, bonus, credit crunch




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Any Credit Suisse employees here? scolliss Employment 37 14.08.2019 22:51
How to pay off UBS credit card online drsmithy Finance/banking/taxation 18 18.07.2011 14:23
Cashing a Credit Suisse Check? bozothedeathmachine Finance/banking/taxation 2 15.09.2009 22:13
Credit Suisse jsm66 Employment 31 02.09.2008 00:12


All times are GMT +2. The time now is 20:05.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0