Is Switzerland no longer a banking haven?

People enter the building of the Swiss bank UBS in Midtown Manhattan August 19, 2009 in New York City.

Voters in Switzerland have approved a referendum to curb executive pay. The move comes less than a week after the European Union announced plans to cap banker bonuses.

Marketplace's Christopher Werth in London joins Morning Report host Jeremy Hobson to discuss the Swiss plan and whether such pay restrictions would ever be adopted in the U.S.

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