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Credit Suisse Bankers To Eat Their Own Dogfood

(Via Dealbreaker) Looks like Credit Suisse Bankers will reap what they sowed:
[Credit Suisse Group AG’s investment bank] will use leveraged loans and commercial mortgage- backed debt to fund executive compensation packages....

The securities will be placed into a so-called Partner Asset Facility, and affected employees at the bank, Switzerland's second biggest, will be given stakes in the facility as part of their pay. Bonuses will take the first hit should the securities decline further in value.

Finally a solution to the financial crisis we can all get behind. No government bailouts, just making employees eat their own dogfood - which is what they should have been doing since the beginning.

Perhaps Detroit will get wind of this and figure out how to pay its executives and workers part of their compensation in Chevy Aveos.

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This page contains a single entry from the blog posted on December 18, 2008 1:07 PM.

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