Faculty Ronald J. Colombo, Associate Dean for Academic Affairs and Professor of Law

Published on May 15, 2012 | by LawNews

Prof. Ronald Colombo Comments on JPMorgan Investigation

EXCERPT:

 

Credit default swaps were largely blamed for exacerbating the 2008 financial crisis and the collapse of Lehman Brothers Holdings Inc. The swaps are often used to mitigate risk, but they’re also used to speculate. JPMorgan insists it was hedging, but some said the size of the bets indicate the bank was trying to make money with them.

 

“Of course, it’s not a crime to lose a lot of money,” said Ronald J. Colombo, a professor at Hofstra Law. “But if they hid these risks, then they’re in trouble.”

 

To read the full article, visit law360.com.

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