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Sullivan & Cromwell LLP managing partner Rodgin Cohen says the steps that had been taken after the failure of Bear Stearns & Cos. may not have been aggressive enough, but the fallout after the failure of Lehman Brothers was, "just unpredictable." "I just assume and don't know that it was thought that with that period of time that the impact of a failure of a major institution could be understood, to me if that was the view, it was a major mistake," Cohen states.
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