Buchheit: Cyprus Could Need a Second Bailout

Mar. 28 (Bloomberg Law) -- The sovereign debt crisis in Cyprus marks the fifth European nation to need a bailout in recent memory, but this crisis is unique because European Union regulators are taking the unprecedented step of taxing bank deposits to finance part of the bailout for the nation's banks. Lee Buchheit, sovereign debt guru and architect of Greece's bailouts, tells Bloomberg Law's Lee Pacchia that despite the drastic measures taken, the endgame for Cyprus might be another round of restructuring. "I'm not sure this is over," says the Cleary Gottlieb veteran.

Wells Fargo CEO: 'We Should Have Done More Sooner'
32:25 - John Stumpf, chief executive officer at Wells Fargo & Co., discusses his knowledge of the opening of accounts without customer authorization and says he knows today they "should have done more sooner." He speaks with Rep. Maxine Waters, a Democrat from California. (Source: Bloomberg)
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