Rodge Cohen Discusses the Future of Wall Street on Bloomberg Radio

October 1, 2010

On October 1, Mr. Cohen was a guest on the Bloomberg Radio show, “Bloomberg Surveillance,” where he discussed the future of Wall Street. Mr. Cohen said he believes “the handful of major firms will continue to prosper. There are certainly advantages of size and scale, and notwithstanding the regulatory concerns about size, I think the business imperatives are substantial.” He also discussed the outlook for the securitization business. “When you look at Dodd-Frank, when you look at Basel, when you look at the changes in U.S. GAAP with respect to securitizations and, perhaps most important, when you look at how many investors were so badly burned in the securitization market just a very short time ago, it is going to be quite a while before I think we see a healthy securitization market,” he observed. As for bank consolidation, he said believes that the “regulatory regime promotes consolidation in the sense that it places a lot of pressure on earnings and consolidation is one methodology to try and offset those earning pressures.”