Big banking needs to be governed by stricter rules

Although Credit Suisse was a systemic and large bank, Silicon valley bank nor Signature bank, which also collapsed this month were certainly not and yet, they have sent shivers down the spine of governments, central banks, and even consumers worldwide.

The banking rules are not strict enough according to Thierry Philipponnat, the Chief Economist with Finance Watch, the European NGO advocating to make finance serve society who spoke to Joe this morning.