Big Profits, Broken Dreams: Adkins, et al. vs. Morgan Stanley Press Conference

330 views · Published 16 October 2012 · 34:32 · Indexed 26 September 2026

Channel: ACLU · 2012 · Nonprofits & Activism

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The ACLU, along with the National Consumer Law Center and the law firm of Lieff, Cabraser, Heimann & Bernstein, has filed a lawsuit in federal district court in Manhattan to hold Morgan Stanley accountable for its collaboration with the subprime lender New Century, which supplied Morgan Stanley with a steady stream of irresponsible, high-risk loans issued in communities of color that were particularly vulnerable to economic ruin. Although practices like these inflicted damages in low and middle-income communities across the nation, Detroit was particularly vulnerable.

http://www.aclu.org/big-profits-broken-dreams

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