Group to picket Morgan Stanley in JC

JERSEY CITY — NJ Citizen Action (NJCA), the state’s largest citizen watchdog organization, is sponsoring on Friday at noon an “informational picket” to urge Morgan Stanley to donate its $14.4 Billion in 2009 anticipated bonuses to foreclosure prevention programs, increase lending and donations to small businesses for job creation, and to “stop fighting real financial reform.”
The group says that Morgan Stanley has announced that it will raised year-end bonuses by 31 percent in 2009, bringing average annual pay to $235,193 per employee, even though Morgan Stanley has sustained a loss in this past year.
Members of NJCA will be joined by members of the public and members of other New Jersey organizations that have joined Americans for Financial Reform, a coalition of more than 200 national, state and local groups spearheading “a campaign for real reform in our banking and financial services system.”
The financial services company is located in Exchange Place.

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