Credit Suisse has taken perhaps the most aggressive approach. Starting at the end of 2008, the bank took a significant portion of the annual bonus pool and switched it from stock to shares in a fund made up primarily of distressed assets. In essence, this means the performance of bets these bankers were originally involved in structuring will help determine whether their 2008 compensation turns into big money or big losses down the road.
Credit Suisse has said one of the reasons it decided on the pay plan was to show regulators in the U.S. and Europe it took the financial crisis seriously.
For full details:
Bankers Beat Odds in Toxic Pay Plan
The world is constantly changing. When we proved that Capitalism is the best system, it is getting rotten with issues. We are slowly moving to... Purpose of this blog is to archive the articles that highlight how capitalism is changing. Secondary purpose is to connect with like minded people. If you like what I like, you are welcome to follow the blog and also share your thoughts.
Showing posts with label bad loans. credit suisse. Show all posts
Showing posts with label bad loans. credit suisse. Show all posts
Friday, August 7, 2009
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