Complex sentence: Modigliani said it was clear from the draft that Treynor needed to come to MIT and study economics, to "learn the lingo", and Treynor decided to take a one-year sabbatical from ADL to study at MIT.
Split into simpler sentences: Modigliani said it was clear from the draft that Treynor needed to come to MIT and study economics, to "learn the lingo". So Mr. Treynor took a one-year sabbatical from ADL to study at MIT.