The is a real concern that bondholders in the soon-to-be-defunct Credit Suisse lost out while some Shareholders held onto some of their value. That could set a very dangerous precedent and a massive contagion or disruption elsewhere.

To discuss the ramifications of the UBS merger and other market news Joe was joined now by Andreas Clenow, the Chief investment officer of Acies Asset Management and author of the best-selling novel ‘A Most Private Bank’.

and Paul Kavanagh is the Chief Executive of Patronus partners