Until MorganStanleyGate reared its ugly head, Mr. Young enjoyed a long, well-deserved reputation as a kind family man, friendly community leader and businessman with extensive industry contacts. He was considered by many at Morgan Stanley to be "one of the nicest guys on the [trading] floor", and while at JPMorgan, he was deemed "a valuable member of any team because he works well with others" cultivated the most impressive group of financial institution clients in the CMBS industry -- all of whom followed him when he moved to Morgan Stanley.
The smear campaign launched against him in New York was intended to protect the valuable IQ® franchise he had created at Morgan Stanley, as well as the mounting misdeeds involved in the ensuing cover-up. The smear campaign in North Carolina was an instrumental part of the bank foreclosure fraud perpetrated by Paragon and Wachovia at the behest of Morgan Stanley -- the intent of which was to deprive Mr. Young of resources necessary to pursue his mounting claims against Morgan Stanley. A very public smear campaign out of San Francisco was also launched by a former Kirkland & Ellis employee, and a still mysterious private smear effort was conducted out of a rural farmhouse in Potwin,KS, targeting Mr. Young's mother, sister and fiancee'.
All such smear campaigns were intended to demonize Mr. Young and were strictly motivated by Morgan Stanley's unbridled greed. What is most disturbing is that something like this could ever happen to someone of his stature and caliber, which is why he intends to undertake a leadership role in helping others fight this woefully lopsided battle against other banksters.
When Spencer C. Young began investing in North Carolina, he had established many friendships, and strong working relationships with community leaders such as Chapel Hill Mayor Kevin Foy, Mayor Pro Tem Bill Strom and Chamber Head Aaron Nelson. Favorable articles were written about him, tenants were excited about his redevelopment plans, and he had formed strong bonds with many tenants.
So what happened? Mr. Young was targeted "to be destroyed" by Morgan Stanley and Kirkland & Ellis, as they have a long notorious history for doing -- and since literally $billions in franchise value are at stake, along with the reputations of many prominent but wayward individuals, the efforts have been especially malicious.