Categories: OLD Media Moves

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 on investigating the extent of Bloomberg’s spying on Wall Street and government clients through its ubiquitous data terminals.

“The privately held news and information giant falls outside of the scope of most financial regulators, noted one source.

“A spokesman for the committee said it ‘does not generally comment on its work.’

“Bloomberg has admitted that some reporters used the terminals to monitor when clients were signed into the service and what functions they were using.

“Besides Goldman Sachs, JPMorgan Chase and other big banks, officials at the Fed and the US Treasury have also expressed concerns that they were being monitored.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.