Mr. Cohen appeared on CNBC and discussed the need for balanced legislation and regulation for financial institutions. He identified what has changed since the onset of the financial crisis. “There has been a change in reality and there has been a change in perception – and both of those changes go to the need for an enhanced regulatory scheme in which risk will be considerably less.” He noted that if legislation is adopted along the lines of the bill currently with the House, it will provide a “strong resolution authority” and create a “very robust regulatory system.” He added that the most important change that needs to be acknowledged is the end of the notion “too big to fail.” Mr. Cohen also discussed capital and derivatives regulation, consolidation of banks and compensation guidelines.