"FDIC to Issue Rules for Private Equity Deals"The New York Times - July 2, 2009
SULLIVAN & CROMWELL LLP Chairman H. Rodgin Cohen was quoted in The New York Times about the new rules under discussion by the Federal Deposit Insurance Corporation (FDIC) that will affect private equity firms and their ability to purchase failed banks. Mr. Cohen noted that the new rules could either speed up or slow down the process. ''It's always good to have an element of certainty,'' Mr. Cohen said. ''The question is whether this will put up barriers that are so discouraging economically that it will actually restrict private equity firms. We won't know until the details are out.''