Faculty Notes Ronald J. Colombo, Professor of Law

Published on June 9, 2016 | by LawNews

Prof. Ronald Colombo Quoted in Bloomberg Story on Citigroup and Collateralized Debt Obligations

The Alchemist Who Turned Toxic Assets Into Gold at Citigroup
Mark Tsesarsky, who fled the Soviet Union with $90, has made the bank billions by doubling down on the same subprime mortgage bonds that nearly sank the global financial system.
By Dakin Campbell and Donal Griffin
Bloomberg
June 7, 2016

Excerpt:

The success of the unit and its unusual mandate stuns Ronald Colombo, a law professor at Hofstra University and former counsel to Morgan Stanley. “The theatrics are horrible,” he says. “It’s impossible to imagine. You’re being bailed out with one hand, and you’re pouring money into the very same assets that precipitated the bailout with the other.”

Read the full article at bloomberg.com.

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