• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Bank Unloads Toxic Debt - On Executives

Status
Not open for further replies.

Lloyd Bonafide

Thread Starter
Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
One way to rid your company of bad debt:

http://www.independent.co.uk/news/b...sse-to-pay-bonuses-in-toxic-debt-1203709.html

Credit Suisse has hatched a cunning plan to avoid public condemnation over executive bonuses this year: it is going to pay top managers not in cash, but in the toxic mortgage assets that caused the credit crisis.

Credit Suisse is the first bank to use the debt to pay employees, who were told about the plan in a memo from Brady Dougan, the chief executive, and Paul Calello, the head of the Zurich-based investment bank


Kind of like going to the company Christmas party, and finding a turd in the punchbowl.


Participants in the fund will receive a small twice-yearly interest payment on the bonus, but will only be able to get their hands on the cash in five years, if the fund has any value left.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
This company has seen the light and has a new religion. woohoo
 

Rice Brewer

Member
Joined
Dec 14, 2004
Professional Status
Certified Residential Appraiser
State
Arkansas
Wait, they are actually tying bonuses to the performance of that which they placed on the books?

What a concept!

Next thing you know, they will want the truth in their appraisals.

Nah, that will never happen!
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks