When Bravado Backfires: A Banker's StoryS

JP Morgan's mortgage chief David Lowman yesterday told Rep. Barney Frank that he wanted people who were concerned about home foreclosures to "come to me." He had no idea he would be chased off Capitol Hill by an angry mob.

From Reuters:

Minutes later, around 50 borrowers burst from the audience and presented Lowman with a 6-page document alleging his bank reneged on a pledge to help struggling homeowners.

The activist who organized the protest said Lowman did not want to talk and left the hearing.

"He ran. He ran like a dog with its tail between his legs," said Bruce Marks of the Neighborhood Assistance Corporation of America (NACA), which helps homeowners avoid foreclosure. "He was scared to death because he doesn't really want to talk to homeowners."

A spokesman for JP Morgan Chase declined to comment on his boss being bitched out.

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