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 verythey've been serving other people. I can think of a few more company execs that could use the "number 1" treatment.
Spoiler Alert, click show to read:
"He is no fool who gives what he cannot keep to gain that which he cannot lose." *Jim Elliot*
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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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
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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