HERE IT IS -
VIA Power Line:
Credit Suisse has a fine idea:
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. And if the market gets liquid again, and the stuff goes up, that's going to be a huge windfall for execs.
I'd like to see this idea spread. Maybe Congressmen could be paid in Freddie Mac paper and union officials in GM stock. The possibilities are endless!
Justice: As you make your bed, so you lye down. According to your Conditions you have your Bargain. [1721 J. Kelly Scottish Proverbs 16]
2 comments:
Credit Suisse announced today that bonuses for its top executives would be made in illiquid, mortgage-backed securities.
I think this is an EXCELLENT idea.
GLAD U AGREE - BUT PROB FOR THE WRONG REASONS:
I LIKE IT BECAUSE OUR TAXES SHOULDN'T GO FOR ANYOMNE'S BONUESES. EVER.
I DO NOT LIKE IT BECAUSE I BLAME GREEN ON WALL STRET FOR THE MELTDOWN.
IT WASN'T THEIR FAULT.
THEY BOUGHT THE FANNIE MAE PAPER IN GOOD FAITH.
THE FAULT LIES WITH THE DEMS IN CONGRESS WHO BLOCKED FASNNIE MAE AND FREDDIE MAC - GSE - REFORM.
AND THE FAULTLIES WOTH GREENSAPN WHO IDIOTICALLY RAISED RATES 17 TIMES FROM 2004-2007.
AND THE FAULT LIES WITH THOSE WHOSE "INVESTMENT STRATEGIES" CASUED THE OIL BUBBLE.
GSE + RATE INCREASES + OIL BUBBLE CASUED THE MELTDOWN.
NOT"WALL STREET GREED".
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