JPMorgan Chase (JPM) went viral on Twitter Wednesday ... and not in a good way.
The bank, which has already had its share of bad press recently, announced plans to have one of its senior executives, Jimmy Lee, "take over" the @JPMorgan handle Thursday afternoon to answer questions from the social media masses.
Just a friendly chat. What could possibly go wrong?
It turns out many people on Twitter still have hard feelings about the whole financial crisis and Great Recession thing, and they wanted to #AskJPM about it.
After about seven hours, it became clear that JPMorgan had lost control and the bank pulled the plug on the social media event.
So how bad was it? Well, CEO Jamie Dimon was accused of cannibalism.
If you think that's bad, Dimon was also compared to the character from Mel Brook's 1987 classic "Spaceballs," who uttered the immortal words: "She's gone from suck to blow!"
Some of the best zingers came from Amy Hunter, a self-described political strategist.
Then things got really weird.
Wonder what the CEO of Goldman Sachs (GS) thinks about this?
What about the person in charge of JPMorgan's social media strategy?
There were a few questions about the many lawsuits against JPMorgan ...
... some speculation about the bank's alleged early access to market moving reports ...
... and the obligatory taking candy from a baby joke.
Maybe JPMorgan can try its next social media experiment on Snapchat? We hear it's popular because messages get erased in a few minutes.
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
JPMorgan Chase has made it painstakingly clear that the bank is better off with Jamie Dimon serving as both chief executive officer and chairman.
But the market seems to disagree ... which is one reason why MOREPaul R. La Monica - May 7, 2013 12:31 PM ET
Another one of Jamie Dimon's key executives is leaving JPMorgan Chase, the firm announced Sunday.
Frank Bisignano, co-chief operating officer along with Matt Zames, is leaving the bank to run First Data Corp., a payments processing company owned by private equity firm KKR. Zames, who now appears to be the clear frontrunner to lead JPMorgan (JPM) when Dimon retires, will be the sole COO of the bank.
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Current and former JPMorgan Chase executives, including ex-chief investment officer Ina Drew, are in Washington to testify about the bank's $6 billion London Whale losses before the Senate's Permanent Subcommittee on Investigations, led by Democrat Carl Levin and Republican John McCain.
Drew's testimony marks her first public comments on the bungled trades. Ex-head of market risk in JPMorgan's chief invesment office Peter Wieland and acting risk offer Ashely Bacon also testified.
Levin and McCain, who led a MOREHibah Yousuf - Mar 15, 2013 2:00 PM ET
"Give up the chairman role Jamie Dimon." That's what a coalition of investors in four major pension funds told JPMorgan Chase's (JPM) board Wednesday. Dimon has served as the bank's CEO and chairman since late 2006.
The coalition, which includes the Connecticut Retirement Plans and Trust Funds as well as the New York City Pension Funds, called on the bank to name an independent board chairman. Shareholders will vote on this plan MOREMaureen Farrell - Feb 20, 2013 4:51 PM ET
JPMorgan (JPM) CEO Jamie Dimon says the U.S. economy is poised to boom if Washington lawmakers can strike a deal to avoid the fiscal cliff.
But of course, that's a really big "if."
"I don't know the odds," said Dimon, speaking at a conference Wednesday hosted by The New York Times' Dealbook. "We could go off the fiscal cliff, and it may not be as big of a deal as people MOREHibah Yousuf - Dec 12, 2012 10:19 AM ET
JPMorgan Chase (JPM) is restarting its plan to buy back its stock in yet another sign that the bank is shaking off troubles with regulators stemming from its London Whale trading loss.
In an SEC filing, the bank said it would buy back up to $3 billion of stock during the first quarter of 2013. The bank's initial plans -- to buy back up to $15 billion in stock, which MOREMaureen Farrell - Nov 8, 2012 6:11 PM ET
JPMorgan Chase (JPM) named Craig Delany, a 20-year veteran of the bank, as head of its chief investment office -- the unit that oversaw a $5.8 billion trading loss earlier this year. A spokesperson for the bank said the change was announced in an internal memo.
Delany's promotion comes as the bank continues to recover from its so-called London Whale trading losses and tries to refurbish its image as the best MOREMaureen Farrell - Sep 6, 2012 4:44 PM ET
JPMorgan Chase CEO Jamie Dimon returned to Capitol Hill, this time to get grilled by both Democrats and Republicans from the House Committee on Financial Services.
Before Dimon took the hot seat, lawmakers threw questions at several regulators including Securities and Exchange Commission chairman Mary Schapiro, U.S. Comptroller of the Currency Thomas Curry, Commodity Futures Trading Commission (CFTC) chairman Gary Gensler, FDIC acting chairman Martin Gruenberg and the Federal Reserve's general counsel Scott Alvarez.
The regulators effectively pointed fingers MOREHibah Yousuf - Jun 19, 2012 1:50 PM ET
U.S. Treasury Secretary Tim Geithner said Wednesday that European Union leaders have the political will to keep the euro currency union from breaking apart.
"They've decided that it's in their interest to hold this together," Geithner said at the Council on Foreign Relations in Washington. "They tell us privately that they will do whatever is necessary to hold it together."
Geithner backed the steps EU leaders have outlined to form a banking MOREBen Rooney - Jun 13, 2012 5:43 PM ET
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