As well as anyone, H. Rodgin Cohen knows that history has a way of topping itself. In 1974, as a 30-year-old associate at New York's Sullivan & Cromwell, the wiry young Harvard graduate worked overtime to help devise a plan to protect the depositors of Franklin National Bank in what was then the nation's largest post-World War II bank failure. Ten years later to the day, Cohen found himself up to the elbow in a similar task: salvaging the $41 billion Continental Illinois National Bank & Trust Co. of Chicago, a money center bank that was nearly 12 times the size of the Long Island-based Franklin. As Continental's outside counsel, Cohen would play the central role in devising the largest bank bailout in U.S. history. That rescue was finally completed last week after the bank's shareholders overwhelmingly voted to approve the plan.
Continental's Lifeline Spun by Lawyers
October 1, 1984