JPMorgan Insults All Employees of Burger King


Executives at JPMorgan had a name for the underlings who willy-nilly foreclosed on tens of thousands of homeowners but failed to accurately document their actions, the "sloppy ... frazzled workers" who lost documents or "sometimes tossed the paperwork into the garbage," as the Times characterizes them this morning.

And even when banks did begin hiring to deal with the avalanche of defaults, they often turned to workers with minimal qualifications or work experience, employees a former JPMorgan executive characterized as the “Burger King kids.”

Well. Not only is this a slap in the face to the hardworking people at the Home of the Whopper, whose actions almost certainly have never resulted in people unfairly losing their homes, it's rather awkward for JPMorgan to characterize them in such a derisory way given that JPMorgan is one of the primary lenders financing 3G's $4 billion bid for Burger King.

Burger King has not responded to Daily Intel's request for comment at this outrageous comparison. This morning, shares in Burger King fell one percent, to $23.96.

Bankers Ignored Signs of Trouble on Foreclosures [NYT]