Tomorrow's Q&A is cancelled. Bad Idea. Back to the drawing board.
— J.P. Morgan (@jpmorgan) November 14, 2013
When JP Morgan's Twitter account announced last month that "VC Jimmy Lee" take questions from the net with the #AskJPM hashtag, they should have been able to predict what was coming next: a stream of hilarious, vicious critiques of late-stage capitalism, banksterism, and financial corruption. One day later, the Q&A was cancelled. The astonishing thing isn't how predictable this was, but how anyone at JP Morgan failed to see it coming — the greatest irony isn't the questions raised, it was the hubris in thinking that these questions wouldn't be raised at all.
The fiasco is being called one of the worst social media disasters in corporate history, and has spawned lots of creativity, including this video of Stacy Keach and a sock puppet performing the tweets and a Matt Taibbi-sponsored haiku contest.
What's the best way to get blood stains out of a clown suit? #AskJPM
— Eddy Elfenbein (@EddyElfenbein) 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
— Zane Zodrow (@ZaneZodrow) November 14, 2013