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BLS Comes Clean That Market-Moving Data Is Consistently Leaked

Tyler Durden's picture





 

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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Wed, 07/11/2012 - 08:55 | Link to Comment mrktwtch2
mrktwtch2's picture

i thought goldman and jpm always had direct access..

Wed, 07/11/2012 - 08:57 | Link to Comment Doubleguns
Doubleguns's picture

They supply the data dont ya know.

Wed, 07/11/2012 - 09:02 | Link to Comment battle axe
battle axe's picture

What!! A Govt agency screwed up? Hey, also of note, grass is green and the sky is blue. 

Wed, 07/11/2012 - 09:09 | Link to Comment Apostate2
Apostate2's picture

My sky is black and there ain't no grass.

Wed, 07/11/2012 - 09:24 | Link to Comment ndotken
ndotken's picture

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

Wed, 07/11/2012 - 10:10 | Link to Comment King_of_simpletons
King_of_simpletons's picture

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 !!

Wed, 07/11/2012 - 10:11 | Link to Comment derek_vineyard
derek_vineyard's picture

who ever claimed life was fair???????? to the winner belong the spoils

Wed, 07/11/2012 - 12:02 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Riiight. They're going to fix this leak problem, given the revolving door between government agencies and Wall Street & Banking interests.

 

Riiiiiiiiiiight.

 

"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..."

 

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

Wed, 07/11/2012 - 09:41 | Link to Comment Sudden Debt
Sudden Debt's picture

There's so many government agencies so some are bound to screw up. It's a math thing.

The "revision" theory.

 

Wed, 07/11/2012 - 12:51 | Link to Comment William113
William113's picture

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.

Wed, 07/11/2012 - 08:57 | Link to Comment zero19451945
zero19451945's picture

BLS data is totally unreliable. Way too many revisions, adjustments, and statistical manipulations.

Wed, 07/11/2012 - 09:06 | Link to Comment timbo_em
timbo_em's picture

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!

Wed, 07/11/2012 - 08:57 | Link to Comment DrDinkus
DrDinkus's picture

the more time i spend on this site, the less faith I have in almost any governing body of anything, anywhere

Wed, 07/11/2012 - 08:58 | Link to Comment Quinvarius
Quinvarius's picture

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.

Wed, 07/11/2012 - 09:03 | Link to Comment dwdollar
dwdollar's picture

Exactly.

Wed, 07/11/2012 - 10:04 | Link to Comment Dead Canary
Dead Canary's picture

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!

Wed, 07/11/2012 - 09:00 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

to bls clerk: you earn what 60K/yr,,wanna double it no lets triple it..??

Wed, 07/11/2012 - 09:03 | Link to Comment Platinum_Investor
Platinum_Investor's picture

This is worst then China.  US - SR

Wed, 07/11/2012 - 09:04 | Link to Comment francis_sawyer
francis_sawyer's picture

Clarence Beeks

Wed, 07/11/2012 - 09:04 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Great minds.....

Wed, 07/11/2012 - 09:04 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Beeks!

Wed, 07/11/2012 - 12:24 | Link to Comment BeetleBailey
BeetleBailey's picture

...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..........

Wed, 07/11/2012 - 09:04 | Link to Comment d edwards
d edwards's picture

Call this manipulating the sheeple.

Wed, 07/11/2012 - 09:04 | Link to Comment Barry McBear
Barry McBear's picture

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.

 

Wed, 07/11/2012 - 09:06 | Link to Comment firstdivision
firstdivision's picture

Sandia Labs has lasers that can shoot down satellites, why not let them zap the perpetrators?

Wed, 07/11/2012 - 09:08 | Link to Comment not fat not stupid
not fat not stupid's picture

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.

Wed, 07/11/2012 - 09:09 | Link to Comment Laughinggrizzley
Laughinggrizzley's picture

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)? 

Wed, 07/11/2012 - 09:15 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

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.

 

Wed, 07/11/2012 - 09:42 | Link to Comment Laughinggrizzley
Laughinggrizzley's picture

Yea, why should any respectable third world country go after corruption?

Wed, 07/11/2012 - 09:17 | Link to Comment CreativeDestructor
CreativeDestructor's picture

Liblsbor

Wed, 07/11/2012 - 09:17 | Link to Comment Racer
Racer's picture

Anyone looking at a chart could see that it is leaked

Wed, 07/11/2012 - 09:25 | Link to Comment Agent P
Agent P's picture

"Blue Horseshoe loves an 80,000 jobs print."

Wed, 07/11/2012 - 09:28 | Link to Comment jjsilver
jjsilver's picture

That's to take your eye off the ball that the data itself is rigged, just like everytrhing else

Wed, 07/11/2012 - 09:41 | Link to Comment Meesohaawnee
Meesohaawnee's picture

good thing obummer came thru with his campaign promise to clean up all this corruption..where would we be without him?

Wed, 07/11/2012 - 09:47 | Link to Comment Stuck on Zero
Stuck on Zero's picture

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.

 

Wed, 07/11/2012 - 10:12 | Link to Comment spine001
spine001's picture

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

 

Wed, 07/11/2012 - 10:57 | Link to Comment Cycle
Cycle's picture

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.

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