Thursday, December 18, 2008

Credit Suisse To Pay Top Execs With Illiquid Mortgage Securities

Credit Suisse announced today that bonuses for its top executives would be made in illiquid, mortgage-backed securities. Seeing as these guys are responsible for getting this stuff on the companies books, it makes sense to shove it back to them.
Actually, the quote pretty much says it all. The only possible problem is that if those securities turn out not to be as bad an investment as the New York Times and the like are saying, these executives are going to wind up with a nice profit on the deal.

I suspect the Obamabots would have a conniption fit over a result like that.

Stay tuned, things might start to get interesting.

Full article here.