Tuesday, December 23, 2008

In-kind bonuses to investment bankers

Investment bankers at Credit Suisse may be feeling a lot like Clark Griswold after finding out that most of their year-end bonuses are being paid out in the form of "junk bonds, mortgage-back securities and corporate loans" instead of cash.

Clark, whose Crunch enhancer non-nutritive cereal varnish actually added value to his company, deserved better and eventually got it.

The bankers, who created these crummy securities and pawned them off on their customers, are getting far better than they deserve.