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Thread: Coal in Your Stocking

  1. #1
    Hope guides me Senior Member Hosakawa Tito's Avatar
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    Default Coal in Your Stocking

    Credit Suisse Top Execs Get Toxic Debt as Christmas Bonus

    Yes, Virginia, there is a Revenge Claus. What genius. The banks get to transfer out some illiquid assets, employees get some kind of bonus, and the bankers are forced to eat the very they've been serving other people. I can think of a few more company execs that could use the "number 1" treatment.

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    "He is no fool who gives what he cannot keep to gain that which he cannot lose." *Jim Elliot*

  2. #2
    Moderator Moderator Gregoshi's Avatar
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    Default Re: Coal in Your Stocking

    Let's be generous Hosa and make sure they get the "number 2" treatment as well.
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  3. #3
    Arena Senior Member Crazed Rabbit's Avatar
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    Default Re: Coal in Your Stocking

    And only for the top execs as well...brilliant.

    CR
    Ja Mata, Tosa.

    The poorest man may in his cottage bid defiance to all the forces of the Crown. It may be frail; its roof may shake; the wind may blow through it; the storm may enter; the rain may enter; but the King of England cannot enter – all his force dares not cross the threshold of the ruined tenement! - William Pitt the Elder

  4. #4
    Part-Time Polemic Senior Member ICantSpellDawg's Avatar
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    Default Re: Coal in Your Stocking

    That is actually very nice of them. In a year that they wouldn't get squat they get something with a shadowy value.

    Those toxic debts are not worthless - they were just valued at close to zero based on the market demand at the time of official valuation. They could turn out to be pretty hefty Christmas bonuses when the market turns around and people realize that the toxic debts have a real value that is likely to be higher than the value percieved now.
    Last edited by ICantSpellDawg; 12-20-2008 at 00:58.
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