Credit Suisse Group AG’s investment bank has found a new way to reduce the risk of losses from about $5 billion of its most illiquid loans and bonds: using them to pay employees’ year-end bonuses.
From Ritholtz.
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You're not the senior most OOD, nor the most experienced. But the CO feels that when he's fast asleep, you can tell when things are getting out of hand. And you'll pick up the phone. Congratulations, you're the Midwatch Cowboy. "Maneuvering, Conn, shut up and push."
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- midwatchcowboy
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