The Swiss have been recognized for years as some of the most savvy bankers in the world. Now word from Credit Suisse reinforces that reputation. At a time when US companies like AIG are preparing to hand out millions, if not billions in bonus money, Credit Suisse has decided bonus awards for bankers will be in the form of packaged securities made up of sub par mortgages. Now the people that profited from selling the junk will own the junk and Credit Suisse writes it off the books. Maybe some other firms in the US can take notes?
http://www.cnn.com/2008/POLITICS/12/22/rediker.bonus/index.html
