Market Extra: Syracuse University Permanently Kicks Out Fraternity Over Extremely Racist Video

Syracuse University permanently expelled a fraternity over an offensive video that drew protests since it emerged in recent days.

On its website on Saturday, the university said the expulsion of Theta Tau, a professional engineering fraternity, follows the release of the video which shows members taking a racist and anti-Semitic oath: “I solemnly swear to have hatred in my heart for n-ggers, sp-cs and most importantly the f-ckin’ k-kes.,” some in the video can be heard saying.

Find the video below (Warning: the video may be extremely offensive to some):

Syracuse University Chancellor and President Kent Syverud referred to the fraternity members’ behavior as “disgusting,” in a video.

Members of the Syracuse University Chapter of Theta Tau apologized for their actions, which were first published by student newspaper The Daily Orange.

“For those of you who do not know Theta Tau, we are ashamed that this is the first time you’re hearing of us. Our house is not and has never been a place for hate…Of course, none of this can possibly excuse the words that came from our fraternity house last month, no matter the context the words were used in,” members of the chapter wrote.

Read: After two black men arrested, Starbucks has no clear policy on how long customers can linger

The expulsion of the fraternal organization comes after two African-American were removed by at least six officers from a Philadelphia Starbucks Corp. SBUX, -2.06% as they were waiting for a business associate—an act that drew outrage on social media and Starbucks to announce that it would close all of its stores nationwide on the afternoon of May 29 for racial-bias training.

RECENT NEWS

What Advisers Misunderstand About Protection

Protection is rarely rejected outright. More often, it is misunderstood. Most advisers recognise th... Read more

Gyrostat Market Outlook: Looking Beyond The 30-day Volatility Headlines

This outlook examines how financial markets are pricing risk rather than attempting to forecast market... Read more

Gyrostat Capital Management: The Hidden Assumption In Most Portfolios - Stability

Markets do not usually fail portfolios. Assumptions do. Most portfolios are built with car... Read more

Gyrostat February Outlook: Stewardship As Risk Reprices

This monthly outlook examines how financial markets are pricing risk, rather than attempting to forecast ... Read more

Gyrostat Capital Management: Why Risk Management Is Not About Predicting Risk

Why Risk Management is Not About Predicting Risk Financial markets reward confidence, but they punish certai... Read more

Gyrostat January Outlook: Calm At Multiyear Extremes

This monthly Gyrostat Risk-Managed Market Outlook does not attempt to forecast market direction. Its p... Read more