Should I even bother applying to Morgan Stanley?

Don't bother, what's the point. That 5 minutes would definitely be better spent doing something else.

Seriously? What harm is there in applying? I hope you don't approach all job applications that way. What did you expect WSO people to say?

ratatouille, can I ask what school you attend?

I'm in an ivy and they have some postings for HR up but nothing else. I was told that recruiting was supposed to be in full effect in January/February...

They wouldn't be setting up interviews at your campus (or, if its just a resume drop, bother to set that up) if they weren't hiring...

Not true - many firms set up on campus interviews with no intentions of hiring simply to maintain the relationship with the school.