[February 17, 2022] With great fanfare, the CEO of Morgan Stanley investment bank announced a new Freshman Enhancement Program in conjunction with Princeton University.1 Morgan Stanley’s program excludes those who are not Black, Hispanic, Native American or LGBTQ+ freshman undergraduate class of 2025. By doing this, Morgan Stanley violated their core values.
Putting aside the issue that anyone attending Princeton and likely to be hired into Morgan Stanley is categorically in the top 1% of Americans. If we count the world into this, they are at the very pinnacle of civilization. Excluding students based on race, ethnicity, or sexual orientation is problematic and illegal.
Morgan Stanley’s core values, found on their webpage2 are:
- Do the Right Thing (act with integrity, think like an owner, value and reward honesty and character)
- Put Clients First (keep the client’s interests first, work with colleagues, listen to what the client is saying)
- Lead with Exceptional Ideas (win by breaking new ground, leverage different perspectives, drive innovation)
- Commit to Diversity & Inclusion (value individual and cultural differences, champion an environment where all feel a sense of belonging, expect everyone to challenge behavior counter to our culture of inclusion, and attract, develop and retain talent reflecting the full diversity of society)3
“Long-term and enduring success lies in having a strong culture and talented employees who live our values. At Morgan Stanley, our culture guides our employees, and our values inform everything we do.” – James P. Gorman, Chairman and CEO
Morgan Stanley’s core values were not arrived at by accident; they are very sound and thoughtful. It is interesting that their CEO would consciously violate them in such a blatant manner.
On Tuesday this week, legal counsel for Project on Fair Representation sent Morgan Stanley a warning that their Freshman Enhancement Program is illegal and immoral. The letter states:
“The program’s existence also bespeaks a broader dysfunction at Morgan Stanley, Princeton, and any other colleges and universities participating in this recruitment program. . . .It is, frankly, astounding that these programs passed internal legal review in light of the clear statutory prohibitions discussed above.”
Dysfunction! If I were Morgan Stanley’s CEO, I’d be crawling in a hole about now. This critic is devastating as it questions the moral capability of its leadership and the corruption of its core values.
The President of Princeton University and Morgan Stanley’s CEO hope social pressure will give them a defense to violate federal anti-discrimination laws. It will not.
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- I’m not sure how long this link will last because the program, in its original state, will involve blatant racial discrimination.
- Our Core Values: https://www.morganstanley.com/about-us/morgan-stanley-core-values
- I paraphrased a bit, but the meaning has not changed. You can read the list on their website (as long as they don’t change it from today’s publication on February 17, 2022: https://www.morganstanley.com/about-us/morgan-stanley-core-values
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I’m not surprised given what I’m hearing out of their corporate office. They’ve been pushing discriminatory practices for a long time now. I withdrew my retirement savings from their bank.
They are not the only one who are now violating their core values.
Canadian banks agree to follow Trudeau’s directives, freeze protesters’ bank accounts
https://www.lifesitenews.com/news/canadian-banks-agree-to-follow-trudeaus-directives-freeze-protesters-bank-accounts/
Others have said it best, SHAMEFUL. Racial discrimination is GOOD oh, no, BAD. Oh, can’t make up my mind. What’s up. I’m Vice President Joe Biden, I mean President Harris, oh, what ever. Hey man!
You are such a jokester. Joe, keep these comments coming our way. I love it when humor is used to attack fascist-like politicians. Especially the tottering old fool that America has as its president. Or the crazy-man tyrant that Canada has. We are the new China! Suppression of the people is the name of the game.
The intent behind the racial discrimination that started in the 1960s was to even the playing field for those blacks and others who had been discriminated against for a long time. Now, how much better off are we after more than half a century? Are things better? Nope, they are worse. So, the solution from the govt? Bear down on what you are doing and expect different results. Insane!
Too many folks don’t realize how quickly we can damage a team or group by doing this.
Got that right! Yes! Keep up the great comments.
I’ve also discovered that others are doing similar discriminatory things. Just found out that TD Bank (Canadian) which operates in the US is confiscating the donations meant for the Canadian Freedom Convoy truckers. I’ll be pulling my money out of their bank today.
Morgan Stanley bank has no core values. They are on their website for show only.
You should not be surprised, I’m not. 🇮🇹
SHAMEFUL !!!!!!!! Aren’t Princeton and Morgan Stanley leaders conscious?
Yesterday, I closed all my accounts with Morgan Stanley for their racist actions. Now, I know that will not do any good whatsoever but I do not support evil acts like James P. Gorman of Morgan Stanley Investments has pushed on us. I won’t tolerate it. I will put my money elsewhere. I now also have a new financial manager for me and my wife. Yeah, Morgan Stanley take a hike off the moral cliff. You put yourself there, now live with it.
It is a good thing that Project on Fair Representation is on the case. Do not let this kind of illegal and immoral behavior go without fighting it.
Right, sometimes you just have to use the legal system. Largely a waste of money but when you gotta make a point, do so publically and forcefully.
Right, smack the racist woke James P. Gorman, Chairman and CEO of Morgan Stanley in the face with lawsuits and public shaming.
Shame on Morgan Stanley for allowing this to happen.
Excellent article. Pity! ✔
Somebody needs an a$$ whooping and that is Morgan Stanley’s CEO and Pres. Gee, how stupid can you get. Don’t they have lawyers working for them that can read?
Part of the strategy to fight real race/sex/religous discrimination is to drag them into court. Princeton Univ should be dragged thru their discrimination mud daily to show the world they are truly evil to push such an agenda. Remember the US fought a civil war over this.
The US Civil War was fought over the abolition of slavery and to keep the Union together. The basis of slavery was discrimination which is what we fight today and will forever fight. Discrimination and prejudice is somehow built into humans. But we know that.
Right, let’s not mix up history. Dennis’ point is well taken.
Being strong is paramount in this fight for freedom and stopping racial discrimination. We will never eliminate it. It is a long process and a form of corruption. Let’s not get lost ethically by believing that we can overcome discrimination by more discrimination. My mom always told me that one wrong doesn’t make another wrong better.
I agree, there is a great dysfunction within Morgan Stanley. What will they do to make a midcourse correction away from cheerleading their own racial discrimanatory practices?
Morgan Stanley CEO James P. Gorman is just another leftist hypocrite. No surprise there. I work at Morgan Stanley and we all know it. He’s always been into different fads. Nice guy most of the time but comes across as “I’m superior to you.” His latest venture with Princeton U. has convinced us that he needs to retire before he further damages our reputation further.
Pow, great comment from someone on the inside.
Sickening!
Just another example of awful behavior. “Some racial discrimination is GOOD.” How ignorant can you be. This discrimination has been going on since the 1960s and is ramping up today.
True enough and the reason is that we tolerate it. Bad on us. 😢
If we think racial discrimination is ‘good’ then why not make it legal? Hmmmmm! Make it legal? I don’t think the majority of citizens in the US, Canada, or the UK would approve. Okay, add Austrailia & NZ to the list.
The English speaking world is ahead of the rest by leaps and bounds.