Wednesday, May 23, 2012

Turd on the Street: J.P. Morgan's Reputation Now Lower than Goldman's (JPM; GS)

From Salmon at Reuters:

JP Morgan’s reputation plunges

JP Morgan Buzz vs. Goldman Sachs.jpg
From a PR perspective, the way that JP Morgan managed to lose more than $2 billion on a bad trade is easily the worst thing to happen to the bank since before the financial crisis. This chart comes from YouGov BrandIndex, which measures consumer’s brand perceptions, and shows that JP Morgan is now held in lower esteem than Goldman Sachs — quite possibly, for the first time ever.

The plunge in JP Morgan’s “buzz score”, of a good 20 points, is huge: the only comparable fall was the release of the Abacus complaint against Goldman in April 2010....MORE