An Emergency Swiss Rescue, A Liquidity Crunch, & ‘We Love NYC’ 03/20/23

The Swiss government has helped broker a deal for UBS to acquire its embattled rival Credit Suisse in an “emergency rescue” to curb global contagion in the financial sector. Joe Kernen, Becky Quick, and Andrew Ross Sorkin unpack the details of the deal and whether it will work in stabilizing banks and investors. Steve Liesman explains, the Federal Reserve is coordinating with other central banks to improve global liquidity with enhanced swap lines. Sen. Bill Cassidy (R-LA), a member of the Senate Finance Committee, considers the banking regulations that could mitigate poor management in finance. Plus, New York City Mayor Eric Adams and President and CEO of the Partnership for New York Kathryn Wylde discuss the city’s road back from Covid-19, including their launch of a new “We Love NYC” campaign. 

 

In this episode:

Sen. Bill Cassidy, @SenBillCassidy

Joe Kernen, @JoeSquawk
Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie