you are in the cnn newsroom. i m paula reid in washington. jim acosta is off. a major move today in an attempt to halt a global banking crisis. switzerland s largest banking group ubs just agreed to buy its rival credit suisse in an emergency rescue bid. the purchase is aimed at halting investor panic brought on by two sudden u.s. bank failures this month. the deal comes after shares of the ailing bank lost 25% over the last week. even an emergency loan from the swiss national bank failed to stop the fallout. cnn reporter anna stewart will join us in just a moment, and cnn global economic analyst, rana foroohar joins us now. all right, rana, can you explain to us this deal? yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of crises. it s been considered weak in the marketplace. even late last year, it was having its own problems to
of what we can expect to hear. we will show evidence of the president s involvement in this scheme, and also show evidence about what his own lawyers came to think about this scheme. and we ll show courageous state officials who stood up and said they wouldn t go along with this plan to call legislatures back into session. let s begin with manu raju who is live this morning on capitol hill. so manmanu, walk us through whoe we expecting to hear from today. reporter: we expect to hear from four witnesses who will talk about the intense pressure campaign launched by donald trump and his allies to overturn the electoral results, the pressure they withstood re rejecting those efforts. and also the real life consequences, particularly facing a georgia election worker, former georgia election worker who will testify later today about the real threats to her personal safety, to her family s safety, because of what she says were lies that were pushed by donald trump, by rudy giu
also, did the commander-in- chief do on saudi arabia? do grass gas prices trump human rights? the federal reserve act boldly to try to get information under control. will it work? the first, here s my take. claire mack in 1942, tried to ready the british people for a long contact. he said this is not the end. it is not even the beginning of the end. but it is, perhaps, the end of the beginning. when we think of it in those terms, what phase are we witnessing in the war in ukraine? we are like me in the middle. explains gideon rose. the other of an excellent book. how wars end. he points out that every war begins like a chess game with a dramatic attack and the defense. if those opening do not produce a decisive victory, the war enters a middle phase. he told me during the middle phase, neither side is interested in negotiating because each side is trying to win outright. thus, have a stronger position from which to negotiate. this is when emotions run high. making it hard to
you are in the cnn newsroom. i m paula reid in washington. jim acosta is off. a major move today in an attempt to halt a global banking crisis. switzerland s largest banking group ubs just agreed to buy its rival credit suisse in an emergency rescue bid. the purchase is aimed at halting investor panic brought on by two sudden u.s. bank failures this month. the deal comes after shares of the ailing bank lost 25% over the last week. even an emergency loan from the swiss national bank failed to stop the fallout. cnn reporter anna stewart will join us in just a moment, and cnn global economic analyst, rana foroohar joins us now. all right, rana, can you explain to us this deal? yeah, absolutely. so a little bit of con context. credit suisse has been a troubled bank for some time. so this, you know, this is a bank that over the last couple of years has had any number of
and anna stewart is now with us. ana, thanks for joining us. how exactly will this work? what are the next steps? well, it s really interesting just looking through some of the detail we re getting, and there s been a huge press conference with the swiss government and the various players like the central banks and the regulator. ubs is essentially paying 3 billion swiss francs here. that s $3.25 billion, it s actually 60% less than the bank was worth. though as rana was saying there, ubs is getting credit suisse at a snip here. it s also, from the press conference, very clear that everyone is very keen to say this is not a bailout. this is a takeover. however, the swiss national bank, the central bank of switzerland is going to provide a loan of up to $100 billion swiss francs, that s over $100 billion to credit suisse and ubs to boost liquidity and the federal government says they will give ubs a guarantee in the amount of some $9.7 billion for potential losses.