It was another remarkable weekend in the global banking sector, as Switzerland's biggest bank, UBS, agreed to buy its ailing rival Credit Suisse in an emergency deal worth $3.2 billion. Credit Suisse shareholders will be largely wiped out, although shares will retain a fraction of their value. The same cannot be said of owners of $17 billion worth of additional tier one bonds -- they will lose everything. Joining the show to discuss is Vincent Kaufmann, the CEO of Ethos Foundation, a holder of more than 3% of Credit Suisse stock. Ethos is composed of 246 Swiss pensions and public utility foundations.
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First Move with Julia Chatterley