This section presents a candid summary of the personal side of Mr. Young, and is made publicly available to help expose the smear campaigns associated with MorganStanleyGate that were launched against him in New York, North Carolina and nationally, by Morgan Stanley and Kirkland & Ellis as part of their cover-up efforts.
Spencer Clifford Young III was born and raised in Long Island, New York, spending the preponderance of his childhood in Bayside, Queens in New York City. He had a decidedly normal and happy childhood. Vacations were principally comprised of family gatherings at modest vacation homes in New Jersey and Florida that were generationally passed on, and childhood summers were typically spent playing stickball. After his sophomore year in high school, his family moved to Great Neck, a suburban town on the North Shore of Western Long Island (the "North Shore"). Upon completion of his graduate and undergraduate studies at Cornell University in upstate New York, Mr. Young returned to Long Island, where he was married and raised his family including three sons in the Town of Manhasset.
In 2004, while waiting for his civil claims to be adjudicated against Morgan Stanley, Mr. Young began investing in North Carolina with the purchase of a specialty retail mall in Durham, and bought a live-work condominium in Chapel Hill in 2005, so he could be close to his oldest son Michael, who was attending Duke University. Also influencing Mr. Young's decision was his twin sons' aspirations to attend Duke (Kevin), and nearby University of North Carolina at Chapel Hill (Ryan).
His father, Spencer C. Young, Jr. , known to his friends as "Cliff" was a member of "the greatest generation". He was a World War II veteran who served on the front lines at the age of 20, and was part of the January 1944 invasion in The Battle of Monte Cassino (a/k/a The Battle of Rome). Shortly after the main invasion, he was reported missing in action, however months later it was learned he was ambushed while on a scouting patrol and became a German Prisoner of War ("POW). During the last few months of his 15 months in captivity, he had to endure an 850 kilometer "death march" during harsh winter conditions, while being provided little or nothing to eat. Any POW unable to keep up, or otherwise withstand the elements, was shot. He was rescued in April 1945 by a U.S. Army Military Police team, which included one of his best friends. In his first letter after being rescued, he wrote his parents: "I am once again classified as a free man. The feeling within a man's heart is beyond any type of written description. Freedom is a small word, but it means so much for happiness."
Growing up in Hollis and St. Albans, Queens in New York City, Cliff was athletic and excelled at baseball, football and basketball. Of note, he played basketball at Andrew Jackson High School with NBA Hall of Famer, Bob Cousy., and was on the Ohio Weslyan basketball team, but this was interrupted by his call of duty in World War II. Upon his return from the war, Cliff graduated from Ohio Weslyan, and after two years at Brooklyn Law School, decided he didn't want to be a lawyer. He married his high school sweetheart, became a successful businessman, running his own insurance agency, Young & Koomans, and provided well for his family.
Involvement in his son's activities was a must for Cliff, and as a result he was very close with his son. In fact, he coached every one of his son's gradeschool baseball, basketball and football teams. Cliff was also an avid golfer and his frequent golf partner was his wife, Edna May -- following the birth of their only son, they adopted a daughter (Denise) eleven years later.
Mr. Young's paternal grandfather was an immigrant from Scotland, a World War I U.S. Navy veteran, and a lifetime politician and civil servant. Known to his friends and colleagues as "Spence", Spencer C. Young, Sr. started his civil career in 1922 as an entry level bookkeeper for New York City, and worked his way up, successfully fulfilling roles as Chief of the Bureau of Real Estate, the Bureau of Investigation, and the Bureau of Public Improvements and Construction.
To bring this about, he worked with prominent local developers to generate private investor interest in participating in the auction of property tax receivables backed by a lien on the properties. This was an important step to obtain ratification of the program by the City Council. Most notable among these developers was Fred Trump, who assumed a leadership role in generating sufficient private investor interest to support ratification.
The Program was a success – a fiscal crisis was averted, and a new method for improving municipal liquidity was established. In these auctions, Mr. Trump successfully bid on many tax liens associated with multifamily properties in Queens, and converted them to fee simple interests, thereby accelerating the growth of his burgeoning empire of apartment buildings, which was eventually subsumed into what is now The Trump Organization.
Spence graduated from Pace University, and he too married his high school sweetheart (Frances Hoffman), and was an avid golfer -- they had one son ("Cliff").
Mr. Young's Family
Mr. Young met Maria Lombardi on a chartered Club Med trip to the Carribean in 1981. They were on the same flights coming and going, but they met by chance on the return flight back --- their relationship blossomed and they were married in 1983.
They made their first homes in Douglaston, and later in Forest Hills, both being coop apartments located in the borough of Queens, New York. Mr. Young served as Treasurer on the Board of Directors of each. They had three sons, Michael (born in 1986) and twins, Kevin & Ryan (born in 1989). Shortly after Michael's birth, they purchased a house in Manhasset, Long Island, where they raised their three boys.
Relationship With His Sons
Mr. Young was extensively involved in raising his sons, and loves them each dearly.
As youngsters, he often read to them before they went to sleep, and when they were older, on Sundays in the Fall and Winter, they would regularly huddle around the TV to watch NFL games (notably the Giants), and in the Spring and Summer, they went to Met and Yankee games.
On vacations, the four of them were inseparable. While Mom lounged at the pool or beach, they would play intense doubles tennis and the competitive levels of the night-time two-on-two full court basketball games were "off the hook". There were also some unplanned events that introduced a degree of excitement they would have preferred not to have experienced -- for instance, when Mr. Young was demonstrating his purported sailing prowess, he nearly got them lost at sea in a small catamaran.
Despite having three sons so close in age and an extensive travel schedule as a financial executive and investment banker, Mr. Young somehow managed to carry on the coaching tradition established by his father, coaching virtually every grade-school baseball, basketball and lacrosse team they played on.
As a member of the "over-achiever generation", Mr. Young also served as the Town Basketball Commissioner for the Manhasset Catholic Youth Organization & Police Athletic League, and he formulated all-star travel teams that he in turn coached. With every team Mr. Young coached for his sons, he drilled into them the importance of unselfish teamwork and sportsmanship, knowing that such a foundation would serve them well in the future. In retrospect, it is understandable why the preponderance of the kids who played on Mr. Young's grade school all-star basketball travel teams, eventually went on to play sports at the collegiate level.
Mr. Young was also known for thoughtfully developed playbooks, that emphasized fundamentals. And these playbooks would invariably contain timeless sayings that can be applied to life's everyday challenges. For instance, one of Mr. Young's favorites was given to him by his Real Estate Law Professor at Cornell, the late John Sherry:
"If you think you are beaten, you are
If you think you dare not, you don't
If you'd like to win, but think you can't
It's almost a cinch you won't
For out in the world you'll find
Success begins with a fellow's will It's all in the state of mind"
When each of his sons played T-ball, and later baseball, Mr. Young (with Maria's valuable assistance) would prepare a standout banner that would be attention getting, and stir up the esprit de corp of the team. Mr. Young would also dress up in the appropriate team colors for additional effect.
Mr. Young consistently arranged his vacation time each summer so that he could accompany his three sons to lacrosse camp. In particular, he attended Cornell's Lacrosse Camp, and served as a pro bono coach/camp counselor, and was the only father who did so. This arrangement was made possible by Hall of Fame Cornell Lacrosse Coach Richie Moran, and later continued, albeit to a lesser extent by subsequent Head Coaches of Cornell Lacrosse, Dave Pietramala and Jeff Tambroni.
Sensing that the sport of lacrosse would continue to grow in popularity, and in turn assist each of his sons to get into the college of their choice, Mr. Young put a lacrosse stick in their hands shortly after they learned to walk, and painfully tended goal for them growing up, right up until the point that his son Michael shattered his thumb with a blistering 90 mph shot (yes, he had a radar gun).
After a valiantly fought battle enduring for over three years, Maria Antoinette Young, Spencer's wife of 24 years, succumbed to pancreatic cancer on April 17, 2011. Most afflicted with this form of cancer, do not survive much longer after diagnosis, but Maria was indeed a fighter. In fact, her bravery and persistence served as inspiration for the Men's Lacrosse teams of Maryland (whom son Ryan played for) and Duke (for whom son Kevin played) throughout the Spring of 2011. In fact both teams faced each other in the Atlantic Coast Conference Championship and in the semi-final game of the NCAA Final Four Championship. Although Maria passed away before these games were played, she was able to see them play against each other on March 11, 2011, which is captured in the below video.
The below video montage from a variety of ESPN broadcasts in the Spring of 2011 is, among other things, a tribute to Maria Young. However, it bears reminding that Maria's untimely passing would have NEVER transpired had it not been for the chronic stress she was subjected to from the MorganStanleyGate scandal. Her family health history has decided longevity (e.g., her mother is in her late 80's as of this writing in 2015 and her father lived into his 70's. She was NOT a smoker, she seldom drank alcohol, she was NOT overweight and there was NO INCIDENCE OF CANCER in her family background whatsoever. Moreover, is is a well-known medical fact that chronic stress can substantially lower one's immune system, which is the body's primary defense against this dreaded disease -- Ergo . . .