Apparently, a crisis does not exist if its handlers do not acknowledge it? At least that is what J.P. Morgan Chase wanted investors to believe about the London Whale crisis. Bruno Iksil aka the London Whale, J.P. Morgan Chase London trader responsible for over $6.2 BILLION in losses. While the consensus is that once again Chase handled the situation abysmally, they have recently won a prestigious award among their peers for their
lies efforts. No, it is not a razzie award, though that too would seem like an honor. J.P. Morgan was on hand for the best crisis management award given to them at the black tie trade publication IR Magazine annual award dinner. Executive director in J.P. Morgan’s investor relations department, Kathy Hu, jokingly quip “Crisis? What Crisis?” Funny words when one’s company is currently on Capitol Hill testifying before Senate. I highly doubt the Senate will be handing out any awards over to J.P. Morgan Chase, other than hefty fines. “Those who laugh last laugh best” my mum always say.
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