I must say, I found the bonus payouts from CS quite inventive and very much Investment Bank like. Paying out the bonuses to employees in the form of toxic assets I find quite inventive. CS is sitting on nominal 5BN USD worth of toxic assets. Alledgedly written down to nil. Only a part of this will however be paid out as bonuses.
Hopefully the employees gets chunky enough amounts that, if the market turns or counterparties dont default, they will stand to make a bundle.
Obviously employess would prefer hard cash, but in this current environment, it is better than nothing. And, as I mentioned, it depends very much on the size of the toxic asset share vs any hypothetical expected cash and share bonus. It could just work out.
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