Bloomberg News reports that Credit Suisse is going to pay its Managing Directors in illiquid assets currently held on CS' books. This is a very creative idea, and in the end could work out well for everyone.
Credit Suisse has been one of the best managed financial organizations throughout this crisis (and by definition through the last few years). They aren't completely blameless (else they wouldn't have the illiquid assets in the first place), but they haven't let it sink the firm.
The partners will receive interest in a pool of assets that will remain on CS' books. It will help retention (not that anyone is going anywhere these days), and potentially be a winfall. It could also be worth little, but in that case, CS has paid it out instead of cash.
http://www.bloomberg.com/apps/news?pid=20601087&sid=abJOQQI18SAE&refer=home
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