That, ladies and gentlemen, was a social media disaster for the ages. In an apparent attempt to connect with the common man, JP Morgan Chase announced an “online discussion” with vice chairman Jimmy Lee that was supposed to occur today before things very quickly went to…well, you know:
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
Tomorrow’s Q&A is cancelled. Bad Idea. Back to the drawing board.
— J.P. Morgan (@jpmorgan) November 14, 2013
Who knew social media “engagement” isn’t always a good thing? In a show of just how poorly planned this event turned out to be, “evil” and “Satan” were two of the terms most commonly used in tweeters’ super-earnest questions.
We feel you, bros—but we also prefer a little more subtlety in our critiques. Some favorites after the jump.
— williambanzai7 (@williambanzai7) 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
What’s it like working with Mexican drug cartels? Do they tip? #AskJPM
— David Dayen (@ddayen) November 13, 2013
What’s the best way to get blood stains out of a clown suit? #AskJPM
— Eddy Elfenbein (@EddyElfenbein) November 13, 2013
There was a point to this exercise: Lee was supposed to be offering career advice to students. In case you’re wondering how to do this sort of thing right, Goldman Sachs held a live Q&A with its Global Head of Financing last month to discuss “corporate financing trends in Latin America”. It was too boring too generate any headlines, which is a good thing!!
In short, if you really want to talk to people then you have to limit the scope of the forum somehow. Otherwise the Internet won’t even bother spitting out your bones after it destroys and consumes you.
Here’s our own way-too-late-to-the-game-as-usual attempt at a “legitimate” question, prompted by today’s story about JPM bribing its way into the graces of Chinese officials by hiring one of their daughters:
— Patrick Coffee (@PatrickCoffee) November 14, 2013
There may have been some good to come out of this fiasco: Chase now has a slightly better picture of its extremely poor standing in the court of public opinion. Now excuse us while we go get cash from our Chase checking account to buy lunch.