. . . . you were in the cnn newsroom paula read in washington, jim acosta is off. we begin with the latest emergency act aimed at a time global banking crisis, switzerland ubs is buying the rival credit suisse after the bank lost 25% of value the past week as major depositors fled in droves. even as an emergency loan from the swiss national bank failed to shore up confidence. that bank says the take-over of ubs should, quote, secure financial stability and protect the swiss economy. joining us is cnn economics and political commentator catherine, first i want to go cnn anna stewart. put this in perspective, how big of an announcement is this. this was for the time one of the biggest banks in the world and definitely a major bank in europe. being in the midst of a huge set of restructure the last couple of years, it was already under pressure and you ve seen the pressures on the banking sector with silicon valley bank, you can say it was a weak link started to debuckl
cohen. tells fox news he will testify before the grand jury tomorrow afternoon. manhattan d.a. alvin bragg s offices investigate the former president s role in an alleged hush money payment to adult film star stormy daniels shortly before the 2016 election. the former president says he expects to quote be arrested on tuesday ahead of a potential chargers, lawmakers on both sides of the aisle including former president invites president mike pence are weighing in. nate foy is alive in our new york newsroom gathering all of this for us, nay, to you. molly goody big former president trump is reacting to that is you just mentioned testify against the grand jury tomorrow afternoon. take a look at this. trent posted on truth social just a part of the most important witness to go before the new york city grand jury, a highly respected once represent a felon jailbird and cereal fake storyteller and liar michael cohen will be doing so tomorrow afternoon. the information he will pr
. . . . you were in the cnn newsroom paula read in washington, jim acosta is off. we begin with the latest emergency act aimed at a time global banking crisis, switzerland ubs is buying the rival credit suisse after the bank lost 25% of value the past week as major depositors fled in droves. even as an emergency loan from the swiss national bank failed to shore up confidence. that bank says the take-over of ubs should, quote, secure financial stability and protect the swiss economy.
find a way through consolidation and through acquisition to get some of these contagions out. the last thing we need are more rapid bank bailouts. molly: that s what republican congressman byron donald on sunday morning futures . amid turmoil from the failure of two u.s. banks and the teetering of another regional band now switzerland ubs s recent agreement to bite struggling rival credit suisse for more than $3 billion. now all of this as the fed is expected to improve potentially another interest rate hike this week. let s bring in jon hilsenrath. a biography on the u.s. treasury secretary. thank you so much for joining us on this sunday evening but we appreciate you giving us a little of your time. thank you. by the way i might have to add a new chapter to that book, the last few chapters are all about crises and it looks like we might have another went on our
hands. molly: let s start this enormous by that s happening in switzerland ubs is the biggest bank in the country reportedly going to buy credit suisse hoop that s been in business for one had seven years of swiss national bank are providing the liquidity, the support to make this happen, noting this is about the overall stability of the financial system. the question in what does this mean for us or the united states? first let me say it s pretty remarkable when you think about it that we are talk about a swiss bank on the verge of collapse. people tend to think as swiss banks is the rock of stability in european finance and here we have the second one being bailed out. what happens in these panics and i think it s fair to say we had a financial panic, the marketplace starts looking for the next target. the supervisors are constantly catching up trying to tamp down the panic. a week ago the silicon valley bank that target moved to