{"id":5899,"date":"2016-09-13T07:48:09","date_gmt":"2016-09-13T12:48:09","guid":{"rendered":"http:\/\/blogs.elca.org\/faithlens\/?p=5899"},"modified":"2016-09-13T18:01:56","modified_gmt":"2016-09-13T23:01:56","slug":"september-18-2016","status":"publish","type":"post","link":"https:\/\/blogs.elca.org\/faithlens\/september-18-2016\/","title":{"rendered":"September 18, 2016–Making a Shrewd Investment"},"content":{"rendered":"

Sylvia Alloway, Granada Hills, CA
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Warm-up Question<\/strong><\/p>\n

Have you ever had to take care of someone else\u2019s property (mowing a lawn, caring for a pet, etc.)? What, if anything, did you learn about looking after other people\u2019s things?<\/p>\n

Making a Shrewd Investment
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\"shutterstock_219530599\"<\/a>Morgan Stanley bank is big, one the of the world\u2019s largest providers of financial services. It is well known world-wide. So it would make sense that, when investing its employees\u2019 retirement funds, it would know how to use the money for the best return.<\/p>\n

A recent class action suit challenges that idea. Employees are suing the bank, claiming that Morgan Stanley invested their 401(k) funds in the bank\u2019s own business interests. The investments performed poorly, as much as 99% below similar funds invested by other banks.<\/p>\n

The legal question to be decided: Whose benefit comes first? As a bank, Morgan Stanley is allowed to put its own interests above the customers\u2019. But as an employer, the law says it must put the employees\u2019 financial welfare first.<\/p>\n

In any case, if the suit is successful, Morgan Stanley will have to think about other people\u2019s future, not just its own, and real economic growth, not just big profits. It will be interesting to see if it learns this lesson in stewardship.<\/p>\n

Discussion Questions<\/strong><\/p>\n