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[telecom] Privacy Breach on Bloomberg's Data Terminals
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Monty Solomon
May 15, 2013, 9:02:05 AM5/15/13
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Privacy Breach on Bloomberg's Data Terminals
By AMY CHOZICK and BEN PROTESS
May 10, 2013
A shudder went through Wall Street on Friday after the revelation
that Bloomberg News reporters had extracted subscribers' private
information through the company's ubiquitous data terminals to break
news.
The company confirmed that reporters at Bloomberg News, the
journalism arm of Bloomberg L.P., had for years used the company's
terminals to monitor when subscribers had logged onto the service and
to find out what types of functions, like the news wire, corporate
bond trades or an equities index, they had looked at. Bloomberg
terminals, which cost an average of more than $20,000 a year, are
found in nearly every banking and trading company.
Bloomberg said the functions that allowed journalists to monitor
subscribers were a mistake and were promptly disabled after Goldman
Sachs complained that a Bloomberg reporter had, while inquiring about
a partner's employment status, pointed out that the partner had not
logged onto his Bloomberg terminal lately.
The incident led to broader concerns about the line at Bloomberg
between its lucrative terminal business and the hypercompetitive
newsroom, threatening to undermine the credibility of both. In a
secretive world that thrives on opacity, traders and financial firms
jealously guard every speck of information about their activity to
avoid tipping their hand on their trades and investments.
...
http://www.nytimes.com/2013/05/11/business/media/privacy-breach-on-bloombergs-data-terminals.html
By AMY CHOZICK and BEN PROTESS
May 10, 2013
A shudder went through Wall Street on Friday after the revelation
that Bloomberg News reporters had extracted subscribers' private
information through the company's ubiquitous data terminals to break
news.
The company confirmed that reporters at Bloomberg News, the
journalism arm of Bloomberg L.P., had for years used the company's
terminals to monitor when subscribers had logged onto the service and
to find out what types of functions, like the news wire, corporate
bond trades or an equities index, they had looked at. Bloomberg
terminals, which cost an average of more than $20,000 a year, are
found in nearly every banking and trading company.
Bloomberg said the functions that allowed journalists to monitor
subscribers were a mistake and were promptly disabled after Goldman
Sachs complained that a Bloomberg reporter had, while inquiring about
a partner's employment status, pointed out that the partner had not
logged onto his Bloomberg terminal lately.
The incident led to broader concerns about the line at Bloomberg
between its lucrative terminal business and the hypercompetitive
newsroom, threatening to undermine the credibility of both. In a
secretive world that thrives on opacity, traders and financial firms
jealously guard every speck of information about their activity to
avoid tipping their hand on their trades and investments.
...
http://www.nytimes.com/2013/05/11/business/media/privacy-breach-on-bloombergs-data-terminals.html
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