hello and a very warm welcome to the programme. very good to have you with us. police in texas are being criticised for the way they responded to the mass shooting at a school in uvalde on tuesday. some parents say officers were too slow to confront the gunman, after he barricaded himself inside a classroom and killed 19 children and two teachers. he was eventually shot dead by police. our north america editor, sarah smith, reports from the scene. all of the 19 children and two teachers killed were in the same school class. ameriejo garza had just been given a phone for her 10th birthday. she used it to try and call the police. jackie cazares had just celebrated her first communion. she died alongside her cousin, annabelle guadalupe rodriguez. irma garcia was one the teachers killed. today, her husband, joe, died from a heart attack after visiting her memorial. they had four children. what were you thinking as you waited in the classroom? am i gonna die? you were worried that
if you lookjust in switzerland, both of them have at least one branch, more in a big city like bern, but at least one branch in every town. so we are looking certainly at probably thousands ofjob losses, because what is the point of having two branches of the same bank in a small town or village? that s clearly not going to happen. but i think also if you look globally, there is going to be a lot of scrutiny now. these are both globally important banks. now it will be just ubs. what is going to happen with the investment sector? with the wealth management sector? further down the line, given that this meltdown seemed to take the swiss financial regulators by surprise, what does it mean for switzerland s reputation for being a safe place to invest your money? this is a catastrophe, frankly.
but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, more in a big city like bern, but at least one branch in every town. so we are looking certainly at probably thousands ofjob losses, because what is the point of having two branches of the same bank in a small town or village? that s clearly not going to happen. but i think also if you look globally, there is going to be a lot of scrutiny now. these are both globally important banks. now it will be just ubs. what is going to happen with the investment sector? with the wealth management sector? further down the line, given that this meltdown seemed to take the swiss financial regulators by surprise, what does it mean for switzerland s reputation for being a safe place to invest your money? this is a catastrophe, frankly, not just for credit suisse
therefore confident that in this difficult situation, the takeover of credit suisse by ubs is the best solution for restoring the confidence that has been lacking in financial markets recently, and for best managing the risk to our country and its citizens. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it s early days. but i don t think it s going to be easy. ubs is the bigger of the two, but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, more in a big city like bern, but at least one branch in every town. so we are looking certainly at probably thousands ofjob losses, because what is the point of having two branches of the same bank in a small town or village? that s clearly not going to happen.
it is supported by the federal council following several meetings with the swiss national bank, with our regulator, with credit suisse and ubs. the federal council welcomes the takeover and is supporting it by guaranteeing the framework conditions necessary for its success. the federal council therefore is confident that in this difficult situation, the takeover of credit suisse by ubs is the best solution for restoring the confidence that has been lacking in financial markets recently and for best managing the risk to our country and its citizens. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it is early days. but i don t think it is going to be easy. ubs is the bigger of the two but both of them are already huge. if you lookjust in switzerland,