Fellow Swiss bank UBS takes over Credit Suisse

The World

Credit Suisse was unraveling, but today, another Swiss banking giant, UBS — with the help of government regulators — bought the failing Swiss bank in a bid to prevent a crisis. The bailout required $54 billion, which UBS had on hand to finalize the takeover. The World's host Marco Werman speaks to Julian Wellesley, a global bank analyst at Loomis, Sayles and Company, about the rescue effort and what it means.

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