About

NoMorganStanleyBailout.org is a coalition of organizations opposed to Morgan Stanley’s tax grab in Atlantic City.  The coalition includes Americans for Prosperity, Liberty and Prosperity 1776, and UNITE HERE.

Despite the fact that Morgan Stanley received a $10 billion bailout from U.S. taxpayers in 2008, the company is seeking another bailout, this time from New Jersey taxpayers.  Morgan Stanley is seeking over $300 million in tax subsidies to bailout its investment in Revel Entertainment, a half-built $2.6 billion casino in Atlantic City.  According to the Wall Street Journal, Morgan Stanley is the “sole backer” of the casino.  Under the proposal, Morgan Stanley’s casino would be given back 75% of its property taxes, sales taxes, and other taxes for twenty years.  NoMorganStanleyBailout.org believes that if Morgan Stanley should get a 75% rebate of its taxes, so should everybody else.