Top Bank Lawyer Cohen Says Current Crisis Like S&Ls, Not 2008
- Sullivan & Cromwell chair was at the center of 2008 turmoil
- Cohen and firm now representing Credit Suisse, First Republic
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No lawyer was more at the center of the 2008 financial crisis than H. Rodgin “Rodge” Cohen. The then-Sullivan & Cromwell chairman was a key adviser as Treasury, the Federal Reserve and the nation’s biggest banks crafted the bailouts and mergers that pulled the system back from the brink.
Now Cohen, 78, and his firm are back in spotlight. Sullivan & Cromwell, where Cohen is now senior chair, is advising Credit Suisse Group AG in its $3.3 billion takeover by UBS Group AG, Silicon Valley Bank in its bankruptcy and also providing counsel to beleaguered lender First Republic on a $30 billion rescue plan from 11 major banks.