Credit Suisse Toxic Bonuses Rival Stock, Gold With 75% Returns
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The toxic-asset bonuses given to senior Credit Suisse Group AG bankers at the depths of the 2008 financial crisis are turning out to be almost as good as gold.
Credit Suisse employees who got $5.05 billion of junk-grade loans and commercial-mortgage-backed bonds in late 2008 as part of annual bonuses have reaped gains of 75 percent on the payouts since the end of that year through Nov. 30, people with knowledge of the results said. Gold futures returned 98 percent in the period, while Credit Suisse’s shares declined 23 percent.