/// Bloomberg News Busted for Spying on Bankers
“Although we have long made limited customer-relationship data available to our journalists, we realize this was a mistake.” That’s what Bloomberg CEO Dan Doctoroff told employees in a companywide email following a complaint from Goldman Sachs that accused Bloomberg News journalists of using private subscriber information pulled from company data terminals to break news. According to reports , Bloomberg journalists routinely gathered information from the company’s financial data terminals, which are widely used on Wall Street. While reporters weren’t able to see market-sensitive details like securities-level or trading data, they were able to see customer contact, login and usage data, and chat information between subscribers and customer service representatives. Far from hard-core “big data,” but easily enough to gather insight into a trader’s interests and thinking. Indeed, sources at J. P. Morgan tell the Financial Times that the firm believes that Bloomberg reporters used login information to determine whether Bruno Iksil, the so-called “London Whale,” had left the bank. Other sources tell CNBC that a former Bloomberg employee used the company’s data terminals to view usage information on Federal Reserve Chairman Ben Bernanke and former U.S. Treasury Secretary Tim Geithner.
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Bloomberg News Busted for Spying on Bankers