The mystery of Wall Street was compromised just a bit when Bloomberg News confirmed a breach of ethics and privacy on Friday afternoon.
To the financial industry’s alarm, Bloomberg journalists have for years been monitoring the company’s data terminals-found in nearly every banking and trading company-for user activity. They monitored what functions of the service subscribers were using, including corporate bond trades and equities indexes.
The dustup came to light after a reporter pointed out to a Goldman Sachs partner that he had not logged into his Bloomberg terminal lately. Oops. Read more at New York Times.
{Andy Heller-Matzav.com Newscenter}
From those of us in the industry: No surprise, except that people are first figuring it out now.