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

The Penny Drops: Understanding The Complex World Of Small Stock Machinations

Micro-cap stocks, often overlooked by mainstream investors, have recently garnered significant attention due to rising c... Read more

Current Economic Indicators And Consumer Behavior

Consumer spending is a crucial driver of economic growth, accounting for a significant portion of the US GDP. Recently, ... Read more

Skepticism Surrounds Trump's Dollar Devaluation Proposal

Investors and analysts remain skeptical of former President Trump's dollar devaluation plan, citing tax cuts and tariffs... Read more

Financial Markets In Flux After Biden's Exit From Presidential Race

Re-evaluation of ‘Trump trades’ leads to market volatility and strategic shifts.The unexpected withdrawal of Joe Bid... Read more

British Pound Poised For Continued Gains As Wall Street Banks Increase Bets

The British pound is poised for continued gains, with Wall Street banks increasing their bets on sterling's strength. Th... Read more

China's PBoC Cuts Short-Term Rates To Stimulate Economy

In a move to support economic growth, the People's Bank of China (PBoC) has cut its main short-term policy rate for the ... Read more