in europe, and ubs s share price when i last looked was a bit 4.5% higher today than it closed last night, so broadly an encouraging start i would say to markets this morning. as you mention you re a former ceo of ubs, the bank that has taken over credit suisse. how does an organisation that ubs absorb a bank like credit suisse that had a history andn quite a variety of issues leading to this run on the bank? how does a bank like ubs take over another bank without absorbing some of that risk? you re right, ubs has spent much of the past decade trying to rid itself of its own risky reputation. remember, it was rescued by the swiss government in 2008, but it has done a very good job
potentially as well. potentially as well. jarred hill, cbs news potentially as well. jarred hill, cbs news correspondent i potentially as well. jarred hill, cbs news correspondent in i potentially as well. jarred hill, i cbs news correspondent in new potentially as well. jarred hill, - cbs news correspondent in new york, thank you. european banking shares are rallying this morning, after days of turmoil on the stock markets. central bankers and politicians have moved to reassure investors following the takeover of credit suisse at the weekend. the fears over the banking sector in europe and america have revived memories of the great financial crisis of 2008. but mark yallop, the former uk ceo of ubs and current chair of the financial markets standards board, said today s problems bore no relation to that period. he gave us his assessment of the markets today. markets were volatile and nervous ahead of the weekend, so it s not surprising that yesterday there was considerable down and