JPMorgan Chase’s epic Twitter misstep is still unfolding via #AskJPM.
A barrage of angry, accusatory and bitter comments and questions are rolling in. The hashtag was supposed to generate a straightforward Q&A session with a veteran investment banker.
For the largest U.S. bank by assets, it has become a social media nightmare.
JPMorgan Chase should have known better.
In recent weeks, headlines have chronicled the big banks’ attempts to settle bad-mortgage dealings of the past with federal authorities that will cost JPMorgan billions of dollars, in addition to the billions lost in its infamous “London Whale” derivatives trading debacle.
And then there is the mega bank’s part in two big foreclosure-wrongdoing settlements.
JPMorgan started promoting the Q&A session with Jimmy Lee, a vice chairman at the bank, last week on Twitter, according to Reuters. The company had asked Twitter users to send questions in advance marked with the hashtag #AskJPM.
By Wednesday, this was the email and Tweet sent by spokesman Brian Marchiony: “Bad idea! Back to the drawing board.”
Here are some of the remarks via #AskJPM:
- How do you decide who to foreclose on? Darts or a computer program?
- What’s your favorite type of whale?
- Where does #AskJPM fall among your company’s smart, sensible business strategies?
- My question: Why is JP Morgan Chase foreclosing on my neighbor after she’s paid for her house 4 times over?
- How come, despite your massive mortgage and derivatives frauds which caused the 08 crash, none of your are in prison?
- JPMorgan Chase Begs For Mercy While Not Giving Us Any…Banksters squirm when Americans #AskJPM real questions.