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team coverage begins right now with Bloombergs Madness cranny in Zurich Mike McKee here in New York City Manus cranny we have a deal Johnny then we do have a deal and there are a couple of critically important things to take away in the first take one we have a bail in of bondholders this is what the market will focus on tomorrow morning when I got on the plane in Dubai this morning this was a billion dollar deal this afternoon in Prada Plaza it was a two billion dollar deal its not a three billion dollar deal and it has a Lifeline 100 billion from The Regulators the SNB theyre standing behind this and Colin Gallagher made it very very clear this is the man who steered Morgan standing through a bailout in the GFC he made it very clear were not in the risk business were a capital life model and the Investment Bank at Credit Suisse will be reduced to 25 approximately that is the size the backstop is in the liquidity is there systemic risk for now well see how we go over the next 12