UBS Credit Suisse Takeover - What's Next?

UBS chairman Kelle Herr says he will shrink the investment bank at Credit Suisse, a unit that racked up losses in recent years. Bloomberg finance reporter Marianne Halfdermyer says thousands of job cuts are likely on the way now. The forced sale means $17 billion of the risky bonds at credit Suisse are now worthless. No care and reaction continues to pour into the takeover of the 166 year old bank.