JPMorgan's Twitter outreach #AskJPM fails

JPMorgan's social media efforts yielded biting comments from the Twittersphere.
Posted By Sonali Basak  |  Nov. 14, 2013 at 2:46 PM
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Nov. 14 (UPI) -- Investors are all over Twitter after its IPO, but maybe they should keep it to trading. JPMorgan's efforts to reach out to the Twittersphere Wednesday failed to produce positive results for the company, when one of the company's top investment bankers took over the @jpmorgan Twitter feed to reply to #AskJPM tweets.

JPMorgan cancelled the Twitter chat about seven hours later, saying it was a "bad idea."

One Twitter user responded, "Do you realize you're making Jon Corzine look like a Choir Boy? #AskJPM," in reference to Corzine's MF Global scandal where funds were misused in derivatives trading. Another user responded implying that Goldman Sachs' executive board is probably hunched over laughing at the Twitter chat.

The responses showed that many were still sour about the investment bank's legal disputes, including a settlement for mishandled mortgage-backed securities, a settlement for credit card practices and the "London Whale" scandal where a JPMorgan trader lost billions in derivatives trades.

Jim Cramer this morning said CEO Jamie Dimon is still trying to see the value of Twitter. He should figure it out fast, before Twitter loses JPMorgan value.

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