JPMorganChase plans, axes Twitter Q&A after #Ohsh!t moment…

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JPMorganChase Vice Chairman Jimmy Lee was all set to use their official Twitter account, @JPMorgan to answer questions posed to the banking giant using #AskJPM.  The seemingly innocuous move turned immediately to panic as apparent distrust, anger and indeed simple trolling immediately took over the hashtag.

Several hours later, JPM retracted the idea.
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Why did this become such a problem?

Aside from simple internet trolling, public confidence in America‘s banking system remains low — and indeed, possibly even contemptuous.  Even I stopped myself from submitting the following question:

“Why did you purchase new jets and hangars for them while you received $25 Billion of my money? Wasn’t it because you were in trouble and needed help? Or was it because you screwed America, and you knew it and wanted to get away with it again? #TARPFunds #BankingCrisis #AskJPM

I still don’t trust the banking system — particularly after having worked in it for several years from the mortgage backed securities side.  Consumers get ripped off at every opportunity, and while improvements have been made, it’s a system of ethics and thought that drives the industry to produce “more, more, more; and damn everything else!”

…like any rabidly for-profit market, I guess.

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