Bloomberg Apologizes for Reporters' Use of Financial Terminal Data
Treasury and Fed investigating
After Bloomberg disclosed that its journalists used its proprietary financial data terminals to monitor clients and score scoops, the company apologized and the Federal Reserve and Treasury threatened inquiries, The New York Times reported.
"The error is inexcusable," editor in chief Matthew Winkler said in an editorial this morning.
Until April, reporters had access to data for more than 315,000 terminal clients, including Wall Street traders, regulators and central bankers. Reporters could see whether a client had logged into a Bloomberg terminal and whether the person was using message or chat functions or looking up news stories, though they could not see the content of any of these functions.
Bloomberg chief executive Daniel Doctoroff told the Associated Press that reporters never had access to "trader, portfolio, monitor, blotter or other related systems or our clients' messages."
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