Dimon wants employees on sidelines for “Muppetgate”

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The embarrassing tongue-lashing Goldman Sachs (GS: 122.68, +2.31, +1.92%) received this week from a former employee in the Op-Ed pages of The New York Times seemingly presents a unique opportunity for the Wall Street firm’s rivals.

Yet bankers at JPMorgan Chase (JPM: 44.72, +1.14, +2.62%) have been warned not to seize upon so-called Muppetgate, which erupted after a former Goldman employee resigned and bashed Goldman as a “toxic” place to work full of self-interested people.

According to Reuters, JPMorgan CEO Jamie Dimon warned employees in an internal memo not to try to take advantage of the “alleged” issues raised by the Op-Ed written by Greg Smith.

“I want to be clear that I don’t want anyone here to seek advantage from a competitor’s alleged issues or hearsay — ever. It’s not the way we do business,” Dimon wrote in the memo, the news service reported.

The Dimon memo, which urged workers to focus on the company’s own standards, greeted Asian employees as they arrived for work Thursday morning and was later forwarded to wider parts of the business, Reuters reported.