During her fireside chat with students on Tuesday, University President Mary Sue Coleman declared that she does not want to re-raise the four Michigan men’s basketball team banners that were removed in 2002.

“From my point of view, taking the banners down was the right thing to do because it was a very difficult time for the university and we were ashamed of what happened because the university has higher standards than that. We’re the University of Michigan — that shouldn’t happen,” Coleman said.

When the news hit the public after the Michigan Daily exclusive was released Thursday, ex-Fab Five member Jalen Rose lashed back.

“I saw that U of Michigan has no plans to put back up our hoops banners,” Rose tweeted early Thursday afternoon. “Should I do like most of its former BBallers & never return?”

He followed with another post a few minutes later.

“Or should I ask for the $250k I donated for my Endowed Scholarship back & move it to another school? Stay tuned.”

The four banners, which were removed from the Crisler Arena rafters in the wake of the Ed Martin scandal and have been stored at Bentley Historical Library for the past decade, memorialize the 1992 and 1993 Final Four appearances, the 1997 NIT championship and the 1998 Big Ten Tournament championship. Rose, now an NBA analyst for ESPN, was a member of the 1992 and 1993 Final Four runs.

In her fireside chat, Coleman said that the banners represented a shameful era in the University’s and basketball program’s history.

“What happened was not good, and I don’t think they’ll ever go back up. I don’t,” Coleman said.

“Some day, I won’t be president anymore, and maybe someone else will have a different view. But I think you have to reflect on the larger meaning and that we want to hold ourselves to a higher standard.”

As part of the NCAA-imposed sanctions in the wake of the Martin case, Michigan has had to dissociate itself with four players — Chris Webber, Maurice Taylor, Robert “Tractor” Traylor and Louis Bullock — for 10 years.

That 10-year separation ends in 2013.

Rose finished his Twitter commentary with a single quote from François de La Rochefoucauld:

“We all have the strength to endure the misfortunes of others.”

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