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BLS Comes Clean That Market-Moving Data Is Consistently Leaked
The Labor Department released a report Tuesday investigating possible leaks of economic data and raised concerns about self-identified new organizations that primarily serve high-speed stock traders. These 'news' agencies - enabling profits to be made from the millisecond early data release include (and have since had access revoked) 'Need To Know News' and RTTNews. But the most telling insight from the report, noted by USAToday, is the following:
The room where news organizations, including The Associated Press, receive early copies of the employment report is supposed to be secure. Before the data were released, reporters gave up their cell phones and temporarily lost Internet access. But the system still suffered from security flaws, according to the report conducted by Sandia National Laboratories on behalf of the Labor Department.
So, it seems that BLS has consistently been leaked 'early' as the report outlined 'ways that technology could be used to bypass security and prematurely leak the data... including hidden transmitters in computer equipment and compromised phone or data lines," and proposes access be granted to 'the room' based on "whether a news outlet produces original reporting and distributes it to a wide audience".
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i thought goldman and jpm always had direct access..
They supply the data dont ya know.
What!! A Govt agency screwed up? Hey, also of note, grass is green and the sky is blue.
My sky is black and there ain't no grass.
Not surprisingly, the Labor Dept blames reporters and news agencies. Of course there's no way that any government employee could possibly be corrupt and illegally leaking the data to traders for a "cut of the action" ... /sarc
BLS data is bullshit to begin with. Then there are greedy morons using leaked bullshit data to trade. Then there is Sandia labs auditing the creator of bullshit (BLS). IDIOCRACY !!
who ever claimed life was fair???????? to the winner belong the spoils
Riiight. They're going to fix this leak problem, given the revolving door between government agencies and Wall Street & Banking interests.
Riiiiiiiiiiight.
It must be a huge mystery as to how those devices are planted. /sarc
It's not like employing simple security measures like overhead, remotely controlled security cameras (the kind that garden variety retailers like 7-11 and even independent liquor stores use, that can be purchased and installed for chump change) would dramatically decrease or eliminate the placement of such devices. /sarc
There's so many government agencies so some are bound to screw up. It's a math thing.
The "revision" theory.
Everybody knows they leak the data. The question is who are they leaking it to. You notice how they spin the story so you focus on the BLS. That way you don't ask the question of WHO.
BLS data is totally unreliable. Way too many revisions, adjustments, and statistical manipulations.
If one considers the longer term, you are correct. But if you're only interested in what happens once the data is officially released and the following seconds or minutes then an early BLS report is very useful. Just look at the S&P 500 and Gold charts when the BLS report is released...go vertical, bitchez!
the more time i spend on this site, the less faith I have in almost any governing body of anything, anywhere
Obviously, this technology was eating into someone's bribe money. Otherwise there never would have been an investigation into how the news was leaked while bribe money was drying up.
Exactly.
You mean, there are corrupt bureaucrats that are being cheated out of their bribe money! I no longer want to live in such a world!
to bls clerk: you earn what 60K/yr,,wanna double it no lets triple it..??
This is worst then China. US - SR
Clarence Beeks
Great minds.....
Beeks!
...are ya there Beeks?
...yeah...I'm here....
Beeks.....do you have the report?
...do have the money?
.................ok...slide it over......
Beeks! Happy New Year!
Now, substitute a lackey bank boy for Duke & Duke...and some schelp-douche at the BLS for Beeks..........
Call this manipulating the sheeple.
Nice to see they admit it. The following site has been all over this story for years: http://www.annrbrocklehurst.com/
It's important to note, these groups of traders have access to lockups all over the world.
Sandia Labs has lasers that can shoot down satellites, why not let them zap the perpetrators?
I declare it now for all to hear: The system is broken. It was fine until I read this column but now its really really broken.
So, does that mean some ass clown over at the AG, should actually do his job,and bring charges against the the low paid federal beureacrat (instead of giving speeches at a NAACP convention)?
the AG is doing his job..too bad J6P thinks his job is something like justice or some silly stuff like arresting anyone in gov crime- just don't ignore the laws for the J6P suckers.
Yea, why should any respectable third world country go after corruption?
Liblsbor
Anyone looking at a chart could see that it is leaked
"Blue Horseshoe loves an 80,000 jobs print."
That's to take your eye off the ball that the data itself is rigged, just like everytrhing else
good thing obummer came thru with his campaign promise to clean up all this corruption..where would we be without him?
A solution comes to mind. Put the BLS data out in realtime. As the computers churn let them make continuous tallies that are available to everyone. Of course, that would not give the BLS doctors time to massage the data for political purposes.
Guys! Gals! This is the era of the Internet at play. We guessed it was going to change the world in the 1970s when we started it, but it has gone beyond even our wildest expectations.
See, we technologists always knew all this was going on, I mean rate fixes, bankers robbing shamelessly, crony capitalism, second rated people hired for the regulatory jobs and first rated people to the banks, etc. But nobody knew & thought we were only a bunch of paranoid nerds if we dared to talk about it.
Now in the age of Internet and Social Media, they (the top 0.0001%) have not been able to hide their ways anymore, it is really fun to see a dream realized. Congratulations to the GNU forefathers & to Linux & to the thousands who enabled this to happen despite the best efforts of the powerful to stop it.
For those of you that don't know, Android is mounted on Linux, linux is the real operating system, the same is true for the iphone and itablet!!!
Enjoy knowing, and foremost of all, DO something about it!!!!****!!!!!
Until next time,
Engineer
Welcome to the last days of the empire's kleptocorruptocracy. It is a trivial mathematical pursuit to show that particular target time series undergo a statistically improbable alteration in non-linear behavior correlating with and pre-dating "top secret" market-moving data, sometimes by hours. I would also remind readers that prior to the unfortunate events of 9/11 large anomolous trades in airline equities and options occurred just prior to the event. I lost my respect for the regulatory agencies when they failed to investigate an issue with a paper/electronic trail a mile long.