Surveillance Special: UBS to Buy Credit Suisse
Bloomberg Surveillance
00:00
Is It the Moral Hazard or a Monster?
UBS agreeing to buy credit Suisse, the Swiss government, broke a deal for more than three billion as officials worldwide race to restore confidence from New York City. I can reassure the members of the committee that our banking system is sound. There's 9 billion of contingency credit guarantees there. We open up positive a 31%. So we ask the question, was it enough? Right now people are tentatively feeling enthusiastic.
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