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. . . . 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

Line activation feesBottom lineComcast businessJim acostaCnn newsroom paula read in washingtonSilicon valley bankCredit suisseSwitzerland ubsTime global banking crisisEmergency actEmergency loanSwiss national bankSwiss economyUbs shouldU sPolitical commentator catherine