CNN's Quest: 'More Banks Are Going to Go out of Business' -- They're 'Stuffed' with Bonds

On Wednesday's broadcast of CNN International's "One World," CNN host, International Business Correspondent, and CNN Business Editor-at-Large Richard Quest stated that the Federal Reserve's interest rate hike will make things "worse" for banks because "all the banks are stuffed to the gills with these government bonds" that will be devalued by the rate hikes. And predicted that there will be more banks going out of business, particularly state and regional banks.