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Bloomberg Limits Internal Client Data Disclosure After Goldman Complaint

Tyler Durden's picture





 

it is no secret that for years, one of the most useful features of the Bloomberg terminal (if only for other users of Bloomberg), has been the ubiquitous red or green user dot, showing if a given user is online (such as NY Fed Analyst/Trader Kevin Henry before Zero Hedge exposure) or gray i.e., invisible, circle such as Kevin Henry after Zero Hedge exposure. Because to some there is nothing more informative than knowing if the object of their stalking ambitions is currently sitting next to a PC. As it turns out, it is not just clients of Bloomberg that found this functionality useful, but Bloomberg journalists too, who until recently at least, it turns out had much more access than just the "dot" including information on when a subscriber had most recently logged onto the service, when they had first become a subscriber and a tally of the types of functions they were accessing through the terminal. That is, at least until Goldman Sachs complained.

NY Post reports:

Irked Goldman Sachs brass recently confronted Bloomberg LP over concerns reporters at the business news service have been using the company’s ubiquitous terminals to keep tabs on some employees of the Wall Street bank, The Post has learned.

 

The ability to snoop on Bloomberg terminal users came to light recently when Goldman officials learned that at least one reporter at the news service had access to a wide array of information about customer usage, sources said.

 

In one instance, a Bloomberg reporter asked a Goldman executive if a partner at the bank had recently left the firm — noting casually that he hadn’t logged into his Bloomberg terminal in some time, sources added.

 

Goldman later learned that Bloomberg staffers could determine not only which of its employees had logged into Bloomberg’s proprietary terminals but how many times they had used particular functions, insiders said.

 

The matter raised serious concerns for the firm about how secure information exchanged through the terminals within the firm actually was — and if the privacy of their business strategy had been compromised.

 

“You can basically see how many times someone has looked up news stories or if they used their messaging functions,” said one Goldman insider.

 

“It made us think, ‘Well, what else does [Bloomberg] have access to?,' ” the insider said.

 

* * *

 

A Goldman spokesman confirmed that Bloomberg was taking steps to address the issue.

Goldman was not happy:

"We brought this matter to the attention of the news organization, and senior management at the company assured us that they were taking immediate measures to address the problem," a Goldman spokesman said. Bloomberg's system of financial data, analysis and news is a ubiquitous presence on trading floors from Wall Street to Hong Kong.

Bloomberg had a prompt response...

“Limited customer relationship data has long been available to our journalists, and has never included clients’ security-level data, position data, trading data or messages,” said Bloomberg spokesman Ty Trippet.

... However, not before Goldman's request to have all such functionality removed.

“In light of [Goldman’s] concern as well as a general heightened sensitivity to data access, we decided to disable journalist access to this customer relationship information for all clients,” he noted.

And so ends Bloomberg reports' ability to dig through client-level data.

In other news, nobody cares about Reuters' Ikon user-tracking functionality for obvious reasons.

 


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Fri, 05/10/2013 - 09:08 | Link to Comment Mr. Poon
Mr. Poon's picture

Where's the story here?  I thought it was public knowledge that Bloomberg was mining data from its customers.  Not exactly out of character for Nanny Bloomberg.

Although having Goldman complain about Bloomberg mining data from its customer traffic, well, that's a bit rich . . .

Fri, 05/10/2013 - 09:12 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

I love when they show "lions vs. hyenas" programs on the discovery channel, but it's even better LIVE.

Fri, 05/10/2013 - 09:25 | Link to Comment Manthong
Manthong's picture

At least there is nothing about what Bloomberg does that is anything like a Nazi

Fri, 05/10/2013 - 09:45 | Link to Comment Joe Davola
Joe Davola's picture

So few people comprehend the real moral of the Trojan Horse story.

Fri, 05/10/2013 - 09:48 | Link to Comment ghengis86
ghengis86's picture

Bloomberg terminal = FaceFuck for banksters

Fri, 05/10/2013 - 12:57 | Link to Comment knukles
knukles's picture

No different than the gubamint looking into private lives of citizenry.

Or Goldilocks front running and recommendations to Muppets...
But that could never be now, could it...

More dual standards.
But WTfuck, they're big campaign donors sos got some weight, no?

Fri, 05/10/2013 - 09:59 | Link to Comment Manthong
Manthong's picture

I don't know..  is there any similarity to turning on the Bloomberg and saying “Heil” ??

Fri, 05/10/2013 - 10:14 | Link to Comment kliguy38
kliguy38's picture

Kneel BIATCH!

Fri, 05/10/2013 - 09:34 | Link to Comment SamAdams
SamAdams's picture

SPEAKING OF COMMUNISTS:

Communist International Bankers and Masons love to put symbolic eyes, pyramids and owls on things they control.  One of these is the Caterpillar corporation.  You may find it strange, but it is true.  Since this cult gained control of CAT, the logo has changed to inlcude a pyramid under the "A". 

Caterpillar is now used to commit atrocites and war crimes.  See what Israel can do with their Caterpillars? 

http://en.wikipedia.org/wiki/Battle_of_Jenin

http://www.jimstonefreelance.com/jenin.html

If I were religious, I would associate this cult as "the chosen people of Satan".  I do believe much of the Bilble is based on historical fact, it is however, spun and plagiarized.  Furthermore, if it were literal truth, your rulers would not allow you access. 

Keep in mind that these pyschopaths control the USA, the equivalent of modern Babylon. 

Fri, 05/10/2013 - 10:32 | Link to Comment Iam_Silverman
Iam_Silverman's picture

"Although having Goldman complain about Bloomberg mining data from its customer traffic, well, that's a bit rich . . "

Well, we can't have you frontunning the frontrunners, can we?

Fri, 05/10/2013 - 13:43 | Link to Comment ToNYC
ToNYC's picture

REDI Book was the GS version. No soup for you!

Fri, 05/10/2013 - 09:12 | Link to Comment astoriajoe
astoriajoe's picture

So Lloyd Blankfein's big brother is Michael Bloomberg?

Fri, 05/10/2013 - 09:18 | Link to Comment Mr. Hudson
Mr. Hudson's picture

Wadda ya gonna do about it? hahaha!! Schlickem lickem, buddy!

Fri, 05/10/2013 - 10:11 | Link to Comment Agent P
Agent P's picture

I don't think Mike Bloomberg is anybody's "big" brother.

Fri, 05/10/2013 - 11:20 | Link to Comment WillyGroper
WillyGroper's picture

LOL!

Fri, 05/10/2013 - 09:12 | Link to Comment aint no fortuna...
aint no fortunate son's picture

Yeah, the sock puppets at Reuters and AP get a pass because, after all, they're banging the drum for Goldman and Jamie etal

Fri, 05/10/2013 - 09:15 | Link to Comment The Thunder Child
The Thunder Child's picture

Not that I disagree just thought I should add that the House of Rothschild bought Reuters news service in the 1800's. Within the last 20 years, Reuters bought the Associated Press.

Fri, 05/10/2013 - 09:13 | Link to Comment Mr. Hudson
Mr. Hudson's picture

Here is the problem. Please watch this video and become informed.

 

http://www.youtube.com/watch?v=gynby-0kkTg

Fri, 05/10/2013 - 09:15 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"Snooping" is only bad when it is done to you. It is good when you can do it to someone else.

<Hence the reason it will soon be totally outlawed except for government and corporations....who are persons after all.>

Fri, 05/10/2013 - 09:17 | Link to Comment horot
horot's picture

So, basically Goldman sachs is smelling his own shit and ask bloomberg for disclosing it? Someone please enlighten me.

Fri, 05/10/2013 - 09:45 | Link to Comment buzzsaw99
buzzsaw99's picture

when muppets get screwed people want to watch but gollum doesn't like it when people watch them screw muppets. gollum can spy on you but you can't spy on gollum. free sergey bitchez

Fri, 05/10/2013 - 09:26 | Link to Comment buzzsaw99
buzzsaw99's picture

big brother is watching the squid too? the irony, it burns.

Fri, 05/10/2013 - 10:10 | Link to Comment LeisureSmith
LeisureSmith's picture

Big Brother screwing The Squid....that would be incest would it not?

OT: Rumor has it that DHS has been buying large quantities of the movie Snatch on Blu-Ray..... Boy, is Janet going to be disappointed when she fins out it hardly contains any snatch at all.

Full disclosure: I just started that rumor.

Fri, 05/10/2013 - 10:18 | Link to Comment buzzsaw99
buzzsaw99's picture

Mary Jo White hits Kermit:

http://www.youtube.com/watch?v=qfJiPPsHJEQ

Fri, 05/10/2013 - 09:26 | Link to Comment RaceToTheBottom
RaceToTheBottom's picture

That buttin must be right next to the Muppet button which GS can use to influence the Muppet's next financial purchase.

Fri, 05/10/2013 - 09:28 | Link to Comment monopoly
monopoly's picture

Don't you just love free markets.

Fri, 05/10/2013 - 09:42 | Link to Comment Rainman
Rainman's picture

Keep banging the drum, ZH. Even The Washington Pravda can no longer ignore the front running due to " political intelligence ".

http://www.washingtonpost.com/business/economy/ways-investors-gain-political-intelligence-facing-public-scrutiny/2013/05/09/0593a278-b74c-11e2-92f3-f291801936b8_story.html?hpid=z1

Fri, 05/10/2013 - 09:52 | Link to Comment Mercury
Mercury's picture

In other news, nobody cares about Reuters' Ikon user-tracking functionality for obvious reasons.

 

I can't believe TR is still a going concern sometimes.

Day late, dollar short, a ton of unintegrated aquisitions, lame apps no one wants...

Fri, 05/10/2013 - 09:52 | Link to Comment gaoptimize
gaoptimize's picture

Never mind the complaints Bloomberg probably got from Bang Dae Ho.

Fri, 05/10/2013 - 10:15 | Link to Comment Agent P
Agent P's picture

Not to mention Nice Wang and Marina Vagina, who by the way would make a beautiful couple.

Fri, 05/10/2013 - 10:09 | Link to Comment Zer0head
Zer0head's picture

Friends and others:

 

who gives a fuck about Bloomturd and Goldsucks

 

with your full authorization both your ISP and goodness knows how many secondary apps and programs (maybe even websites,,,) know exactly when you take a shit, its consistency and with what frequency - and with that up pops an ad for acme redhot suppositories, bill's escort service or whatever   Google and even Tyler knows (or could know) more about you than you know about yourself.

and one day when the time is right Big Data will come a callin'

Fri, 05/10/2013 - 10:11 | Link to Comment China Reporter
China Reporter's picture

I don't work at Bloomberg, but that function is absolutely great. I can see if someone is ignoring my msg.

 

Shame Goldman Sucks is being so paraoid

Fri, 05/10/2013 - 10:19 | Link to Comment Widowmaker
Widowmaker's picture

Goldfuck Sacklickers, "booo hoooo, wahhh wahhhhh"

Faggots of fraud upset?  EAT SHIT.

Best and brightest Widowmaker's fucking ass!  Pussy after pussy in pinstripes.

Fri, 05/10/2013 - 10:17 | Link to Comment DavidC
DavidC's picture

It's Thomson Reuters Eikon, not Ikon, just as an FYI, nothing more.

DavidC

Fri, 05/10/2013 - 10:21 | Link to Comment Widowmaker
Widowmaker's picture

Eikon is nothing compared to TR Project Clear.   That's the real data mining operation (for nanny government enforcement, etc) at TR.

Fri, 05/10/2013 - 10:20 | Link to Comment Seize Mars
Seize Mars's picture

Long Reuters Eikon, baby

Fri, 05/10/2013 - 10:30 | Link to Comment They Tried to S...
They Tried to Steal My Gold's picture

Goldman Sacs' Clients would never sell against Goldman Sacs....

Fri, 05/10/2013 - 10:49 | Link to Comment Lewshine
Lewshine's picture

Slightly off topic, I called this second rape job of precious metals that no one can find or mine, as ridiculous premiums reveal and validate....5 trading days ago. Now, I'm telling any half wit willing to listen that Dow 15K will be the spring board on this well programmed pullback - Dow will shoot from 15K to 15500 within 60 days, and at that time - Physical Gold will be selling on a six month delay of delivery, based on limited availability for about 900.00 an ounce.

Welcome to: You can't do shit but sit back and watch yourself perish!!

Fri, 05/10/2013 - 10:53 | Link to Comment ZeroFreedom
ZeroFreedom's picture

Goldman would have no problem if the roles were reversed.

Fri, 05/10/2013 - 11:03 | Link to Comment Lewshine
Lewshine's picture

...Sorry, one more thing - Santelli just gave a good rant about the Yen having influence on pushing US treasury rates higher - Along with siding with Jamie Dimon as a great TBTF CEO. Well Rick, you've never been more wrong on both accounts. Monday we will see the entire bond matrix, both short and long - dip in yield, without explanation - While the dollar continues to strengthen. Why? Cuz that's what keeps the greasy wheel turning. Oh, and Gold at that time will be sitting around 1350.00 (Monday).  

Fri, 05/10/2013 - 11:23 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

GS complaining about Asymmetric Information not being enforced by Bloomberg?

 

Shock and Awe on the 11 o'clock news!

Fri, 05/10/2013 - 11:28 | Link to Comment SKY85hawk
SKY85hawk's picture

How many Goldman geniuses use Gmail!

Bet they can't turn that off becaause it's free!

 

Fri, 05/10/2013 - 12:33 | Link to Comment villainvomit
villainvomit's picture

Man, I love the green light, red light.  Noticed KH went stealth mode right after being called out by the Tylers. Hahahaha !

 

Now now..no drinking sodas and trading on your Bloomstein Terminal.  Surprised he hasn't put a sensor on the keyboard for that. 

 

Fri, 05/10/2013 - 19:18 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

LOL

Maybe we should convince the Goldman Gang to start using ZNGA apps on facebook for their trading? That'll be good 'n' secret. Oh yes... :D

Sat, 05/11/2013 - 05:01 | Link to Comment Disenchanted
Disenchanted's picture

@ Goldman's Sack we like to keep our criminality on the down low.

'God's Works' should not be monitored by the riff raff.

Do NOT follow this link or you will be banned from the site!