Skip to content
Subscriber Only

Barrack Gives Up on Rescue, Says ‘We’re Fighting Politics’

  • Colony Capital founder says bankruptcy courts will be flooded
  • REITs no longer mark-to-market, but ‘mark-to-hell,’ he says
Video player cover image
Barrack Sees Commercial-Mortgage Collapse If Liquidity Crisis Isn't Addressed
Updated on

After pushing for weeks for government intervention to help asset-backed securities markets, Tom Barrack isn’t optimistic about his chances.

“We’re fighting politics,” the founder and chairman of Colony Capital Inc. said in a phone interview from his Santa Barbara, California, home, where he’s riding out the Covid-19 pandemic with his family. “In an election year, nobody wants to be viewed as bailing out over-leveraged industries -- even if that’s not what is happening.”