How bonus structures contributed to the credit crisis

For a fistful of dollars

As the credit market continues to take tentative steps back to stability, high-profile casualties of the summer's events are still rising to the surface, most recently at Merrill Lynch, which has seen the departure of Osman Semerci, head of fixed-income trading, and Dale Lattanzio, head of structured credit products.

The earlier resignation of Ed Cahill, Barclays Capital's head of European collateralised debt obligations (CDOs) and pioneer of the SIV-lite structure, demonstrated investment banks'

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