“Cohen Says Rules Needed to Prevent ‘Chaotic’ Failures” (Bloomberg TV)

November 5, 2009

Rodge Cohen was interviewed on a Bloomberg TV segment, “Cohen Says Rules Needed to Prevent 'Chaotic' Failures.” Mr. Cohen discussed several topics, including current mergers and acquisitions activity, the state of the U.S. economy, the nationalization of banks and regulatory issues in the financial services industry. When asked what lessons are to be taken from nationalizing banks, he said, “I think the danger here may be false lessons. 'Big is bad' is a false premise and if we go down that road, we are going to have two very adverse consequences. The first will be that we will have inefficient banks, less capable of servicing a global economy and second, we're going to mask the need for real reform. It's not to break up banks, it's to get at the heart of the regulatory issues.”