Rodge Cohen Discusses the Banking Industry on Bloomberg TV’s “Money Moves”September 4, 2013
On September 4, Mr. Cohen was interviewed on Bloomberg TV’s “Money Moves.” Mr. Cohen addressed clients’ concerns regarding the uncertainty of the new regulatory environment and, more specifically, he spoke about the need for a prompt appointment of the next Federal Reserve Chairman. When asked how resolution authority will affect banks, Mr. Cohen said that the most likely scenario in the next six to nine months will be the filling in of major gaps in coming up with resolution authority, leading to a system that ensures against a systemic collapse. “Congress did an excellent job in Title II of ending the concept of too big to fail, but it’s now up to the regulatory agencies both in the U.S. and abroad to come up with a system, which makes that resolution authority truly effective,” he said. Mr. Cohen underscored the necessity for banks to understand what the regulatory scheme will be in order to adjust and move forward.