The Bank System Working: A Major Recalibration

If Credit Suisse goes under, it would be a major recalibration of the international financial architecture. The Basel III and the regulatory architecture that sprang up after 2008 gave the Swiss national bank in FINRA the ability to just go in and solve this problem. No one reached the point of being worried about Credit Suites counterparty risk because we now have the ability to rescue banks or to merge them into other banks.