Banking Turmoil: UBS Takes Over Credit Suisse, More "Junk" for First Republic 03/20/23
Squawk on the Street
00:00
Ubs
UBS is buying Credit Suisse, a 167-year-old bank that was forced into UBS's hand. How do we look at this, Mike? Is this like a Bear Stearns moment? I don't really think there's any reason to think. The market's not acting like it does because of the megacap stocks and hope of the Fed. If anything, if anything, credit crunch makes recession more likely than not.
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