Senate panel may investigate Bloomberg
Sen. Carl Levin’s Permanent Subcommittee on Investigations, which has examined the financial meltdown and JPMorgan’s “London Whale” debacle, is being urged to launch a probe into Bloomberg’s snooping scandal, The New York Post reports. Mark De Cambre and Kaja Whitehouse report, “At least one federal official has recommended that the powerful committee take the lead […]
JP Morgan demands to know what Bloomberg reporters accessed
JPMorgan Chase & Co, one of the biggest customers of Bloomberg LP, said on Wednesday it has sent a formal legal request asking the financial data and news company to provide details of what bank information Bloomberg News reporters had been able to see. David Henry of Reuters writes, “JPMorgan’s statement comes after Bloomberg acknowledged […]
Wall Streeters care more about their messages online than reporters snooping
Cyrus Sanati of Fortune writes about how the Wall Street bankers and traders who are the core Bloomberg customers are more worried about how some of their private messages using the company terminal made it on the Internet than they are about Bloomberg reporters using the terminal to snoop on them. Sanati writes, “The bulk […]
Apologies are a good first step for Bloomberg
Dan Orlando of the New York Business Journal writes about how Bloomberg LP’s quick apologies for allowing its reporters access to information about its clients was a smart move. Orlando writes, “Today I talked to Mark J. Prak, a communications lawyer based in Raleigh, N.C., about Bloomberg’s Snoopgate. He says the confession should significantly stem […]
Customers fear that Bloomberg is becoming a competitor
Peter Eavis and Nathaniel Popper of The New York Times write about how some of Bloomber LP’s biggest customers fear that it is becoming a competitor. Eavis and Popper write, “In recent years, Bloomberg has offered new ways to trade stocks, bonds and more complicated financial products, potentially taking revenue from subscribers to the ubiquitous […]
Examining the man behind The Bloomberg Way
Andrew Edgecliffe-Johnson of The Financial Times writes about Bloomberg News editor in chief Matthew Winkler, who is the author of its “Bloomberg Way” stylebook and the conscious of the news service as it battles to overcome the perception that it spied on its clients through its terminal. Edgecliffe-Johnson writes, “The story has left Wall Street […]
Inside a Bloomberg terminal contract
Zachary Seward of Quartz has gotten a copy of a typical Bloomberg contract and discovered that it allows the company to review customer usage “solely for operational reasons.” Seward writes, “The contract should help shed light on whether Bloomberg faces any legal risks following the revelation that, until April, all of its journalists could view […]
Accept the Bloomberg bargain and move on
Felix Salmon of Reuters writes about the bargain that bankers, investors and analysts agree to when they sign up for a Bloomberg terminal. Salmon writes, “So, Bloomberg says it made a mistake, it has apologized, and it is not going to happen again. End of story? Not entirely. For one thing, the Europeans have pretty […]
Snooping is part of the Bloomberg culture
John Carney of CNBC.com talks to former Bloomberg News journalists about the culture of the company. Carney writes, “‘The surveillance culture is really comprehensive there. There are 450 cameras in the building, You badge in and out. The time at which you badge in and out is displayed for anyone who looks you up internally,’ one […]
The unanswered questions in the Bloomberg scandal
Stephen Gandel, a senior editor at Fortune, writes about what he considered to be the six big unanswered questions in the Bloomberg snooping scandal. Here are two of them: How much more info did Bloomberg reporters have access to than the rest of us? But just because you put up the grey dot doesn’t mean […]
