 Cohen participated in the bank negotiations in January 1981 that resulted in the freeing of the Americans held during the Iran hostage crisis.Cohen has also been a key player in the resolution of most major bank failures in recent decades, including Continental Illinois, First City, Southeast, Franklin National Bank and Bank of New England and, at the recommendation of the Federal Reserve, the Ohio thrift crisis during the U.S. Savings and Loan crisis in the 1980s.Following the September 11, 2001 attacks, Cohen was a leader in the Wall Street community rallying support for Lower Manhattan.