Will Credit Suisse's merger with UBS stabilize worries of a banking contagion?Play
Fellow banking giant UBS agreed to buy Credit Suisse for more than $3 billion dollars in a deal brokered by Swiss officials. This move was an attempt to prevent bankruptcy and any further destabilization of Credit Suisse, along with the rest of the global banking sector. But will this be enough to stave off fears of this contagion spreading to other big banks of the world?
CBS News analyst Jill Schlesinger joins Here & Now's Scott Tong to discuss.
This segment aired on March 20, 2023.