Those Chicago guys are at it again. This time, their target is JPMorgan Chase. But don't worry, Suzy Welch is on the case.
The superstar wife of ranty ex-General Electric CEO Jack Welch expanded the couple's conspiracy tweeting franchise last night by declaring that the federal government totally has it in for JPMorgan, an innocent bank minding its own business:
JP Morgan being investigated by eight federal agencies. Eight.Tell me that's not a vendetta.
— Suzy Welch (@SuzyWelch) March 27, 2013
Suzy Welch, I'm not sure the word "vendetta" means what you think it means!
Welch is referring to a recent New York Times article rounding up all of JPMorgan's various regulatory headaches. The trouble for Suzy's theory is that the many, many dog's breakfasts JPMorgan is choking down did not just materialize out of thin air: In many cases there is some evidence -- if not outright admission, as in the the London Whale trading debacle -- of some sort of pooch-screwing, the sort we typically expect our regulators to at least give a look-see.
And JPMorgan is not exactly being singled out for investigation of matters such as Libor manipulation or lax money-laundering controls. In those, it has company with more than a dozen other banks, at least.
But we know by now that the Welches are not afraid to tweet from the hip when they think something's amiss, and deal with the consequences, or facts, later.
Jack Welch's most infamous tweet was this one last fall, giving the stinkeye to some suspiciously timed half-decent jobs numbers, just a month before the election:
Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers
— Jack Welch (@jack_welch) October 5, 2012
Shortly after that tweet, Jack (and co-author Suzy) resigned from writing columns for Fortune and Reuters, to spend more time with their Twitter feeds. Welch used his to keep after those unemployment numbers, tweeting in December:
Sept/October employment revised DOWNWARD 49K..November workers looking for work DROPS 350,000...INTERESTING!!!!
— Jack Welch (@jack_welch) December 7, 2012
Keep it coming, Welches! We'll break these Chicago guys yet.