JPMorgan canceled a question-and-answer session on Twitter Wednesday after receiving a barrage of critical questions skewering the multinational banking company for legal problems, foreclosure practices, and other ethical transgressions.
Starting at least since last week, JPMorgan, the investment and services portion of financial behemoth JPMorgan Chase & Co, asked followers and others on Twitter to send questions about the bank’s operations for veteran investment banker and company vice chairman Jimmy Lee using the hashtag #AskJPM ahead of the planned Thursday session.
Few had used the hashtag until Wednesday afternoon, after
JPMorgan sent a follow-up tweet on Tuesday promoting the event.
After the reminder tweet, the floodgates opened. Questions - or, often, heckling - ranged from highly critical of the bank’s practices to complete non sequiturs. Company CEO Jamie Dimon was a particularly popular target among the taunters. Twitter users also criticized the bank’s billions of dollars of fines to mortgage regulators and its connection to low quality mortgage securities tied to the 2008 financial crisis.
Among the “questions” posed to JPMorgan:
Can I have my house back? #AskJPM— Adam Coleman (@AdamColeman4) November 13, 2013
What's it like working with Mexican drug cartels? Do they tip? #AskJPM— David Dayen (@ddayen) November 13, 2013
Did you have a specific number of people's lives you needed to ruin before you considered your business model a success? #AskJPM— Amy Hunter (@amy10506) November 13, 2013
I have Mortgage Fraud, Market Manipulation, Credit Card Abuse, Libor Rigging and Predatory Lending AM I DIVERSIFIED? #AskJPM— Downtown Josh Brown (@ReformedBroker) November 13, 2013
What is more satisfying: securities fraud on unsophisticated pension fund investors, or foreclosing on those you gave Alt-A loans? #askJPM— alexis goldstein (@alexisgoldstein) November 13, 2013
Does it feel better paying the biggest bank fines in history so far, or did the satisfaction of the crimes outweigh the fines? #AskJPM— Schoun (@schoun) November 13, 2013
Would you rather negotiate with 1 horse-sized Eric Holder, or 100 duck-sized Eric Holders? #AskJPM— Kevin Roose (@kevinroose) November 13, 2013
JPMorgan cut its losses and canceled the Thursday Q&A on
Tomorrow's Q&A is cancelled. Bad Idea. Back to the drawing board.— J.P. Morgan (@jpmorgan) November 14, 2013
The tweet barrage inspired a dramatic reading of some of the tweets by actor Stacy
Following the cancellation, David Dayen, a longtime progressive
blogger, announced he would - tongue in cheek - answer #AskJPM
questions in place of JPMorgan.
Persistence! It took us years to recognize our sociopathic tendencies and put them to work for us. Use what you got! #AnswerforJPM— David Dayen (@ddayen) November 14, 2013
Always good to get the viewpoint of the people! Unless it's one we don't care for. But look at the buzz! Synergy! Metrics! #AnswerforJPM— David Dayen (@ddayen) November 14, 2013