Then Calello had the strength of purpose not to pay huge cash bonuses to his staff as other failing firms did but to use other troubled assets in the distribution of bonuses that might improve in price in the future.

FORBES: Paul Calello Charted A Course For Credit Suisse Through Financial Crisis

Many in New York used to use huge bonuses to pay cash or largely cash for big New York apartments.

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"I have spoken to the chief executive of RBS, and made it quite clear - and he agrees - that no-one associated with these huge losses should be allowed to walk away with large cash bonuses, " said Mr Darling.

BBC: RBS planning up to 2,300 job cuts