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|Anti-Wall Street protesters upstaged Morgan Stanley's annual meeting on Tuesday, lobbing tough questions at Chairman and Chief Executive James Gorman and shouting negative comments over a bank official who was attempting to read a tally of shareholder votes.
The 53-year-old CEO kept his cool through the meeting, but took protesters to task after one accused him and the board of directors of 'immoral' and 'unethical' practices. Among protesters' complaints were the bank's high pay packages, job cuts and financial reform lobbying efforts.
'I take umbrage at the suggestion that our board did anything unethical and I can't just let that sit out there,' said Gorman.
He went on to say that although some of Morgan Stanley's business practices, including mortgage servicing, had been poor in the past, 'I don't regard those as immoral or unethical.'