the latest turmoil involving banks and the financia markets. today shares of the swiss bank sweat is - setting off fears across the globe all the way to wal street it came after signature bank and silicon valley bank fiel here in the u.s. there are swiss central bank stepped in to say it was ready to support credit suites, an tonight in the last couple o hours, credit suites announced it will be borrowing up to 5 billion dollars from the national bank. with that let s get smarte cocked far lead off pane tonight precludes the pulitzer flies harbor mcquade which is federal former goes attorney for the eastern district of michigan and my friend peters eagles is here at that iraq, you s managing editor for th financial times. peter let s start with credi suites this comes days after silico valley bank, signature bank, w know other regional banks here first republic, they are i trouble. lots of viewers are goin
all the implications for the economy, the biden administration, and for your money. let s go to our chief white house correspondent phil mattingly first. tell us more about what s causing the growing uncertainty about banking here in the united states. what are you learning? you know, wolf, it is interesting to notice and obviously been very clear for a long time but no more acutely today just how interconnected the global financial system is. this is not related to silicon valley bank, what happened over the course of several days in the united states. however, the anxiety driven by those moments, the general concern around financial markets just writ large over the course of the last several days ran head on into very significant issues raised for credit suites, a bank a yourman leader that s had many major issues over the course of the last few years. some people refer it to it as the problem child of european banking. however, when it made clear it had some material issues it was
their losses claiming sbb s ceo and executives were deceptive and acted with reckless disregard. and this morning swiss lender credits sweets announced they had been finding material weakness in 2022 they had a net loss of a billion dollars which came from regulars last week. that same investor that forecasted the lehman brothers collapsed 15 years ago offer this prediction. speak i think the next bank to go as credit suites because the bond market is cracking. the u.s. dollar is losing in germany in the world right now, so they re going to print more and more and more of this trying to keep it from sinking. that would be a big deal while they are applauding the bite in a action in relieving sbb s depositors but there are some republicans and economists that say federal regulators
mission? yeah, the importance of the mission far exceeds any personal insults. neil: i still have trouble from the get that ben carson would take that from any job no matter how important, president trump getting publicly humiliated by, president trump. that is a problem with the question. no computer, why is it relevant for you to go tabloid that doesn t concern you or his cabinet position. nick emails, what the heck is that with dr. carson instead of discussing his job, he got into all the searching. you suck. credit suites, discussing how you try to great controversy between the president, who are you trying to help? yourself? i just called him an idiot in front of his friends, and then i turned it off. you never return. you use a lot of bad words. you are looking like someone who