Scandal Hits Bloomberg News

eporters for the Bloomberg news service reportedly had special access to the activity of traders using Bloomberg's business terminals and were thus able to track some of their interests. Rival CNBC reported that a Bloomberg journalist had been able to call up information on Fed Chairman Ben Bernanke's and Treasury Secretary Tim Geithner's activity on the Bloomberg terminals. And today's (Monday) New York Post said that Bloomberg journalists had been given access to instant message exchanges between clients' representatives on the company's 24-hour help desk. Following a complaint by Goldman Sachs that Bloomberg reporters were spying on their employees, Bloomberg reportedly blocked its reporters from viewing client inquiries on its terminals. And, in an editorial, Matthew Winkler, editor in chief of Bloomberg News, apologized, saying, Our reporters should not have access to any data considered proprietary. I am sorry they did. The error is inexcusable.



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