Tags: Fed | Treasury | Bloomberg | Usage

Feds Scrutinize Bloomberg Reporters' Tracking of Officials' Terminal Use

Sunday, 12 May 2013 06:26 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Federal Reserve and the Treasury Department are examining how closely their officials' use of Bloomberg terminals was monitored by Bloomberg journalists.

Bloomberg has acted to curb its journalists' ability to call up log-in and other usage data for users of its terminals after complaints from Goldman Sachs.

A Bloomberg reporter recently asked a Goldman employee about a partner's employment status, noting that the partner hadn't logged on to his Bloomberg terminal recently.

Video: Economist Predicts 'Unthinkable' for 2013

The Fed is investigating the situation and has contacted Bloomberg to gather more information, a Fed spokesperson told CNBC. A source told the network that the Treasury Department is doing the same.

Meanwhile, a former Bloomberg employee told CNBC that he garnered information about usage of Bloomberg terminals by Federal Reserve Chairman Ben Bernanke and former U.S. Treasury Secretary Tim Geithner.

He said he called up the information "just for fun" rather than to use in a story. He also said that all Bloomberg journalists had access to this usage information.

A Bloomberg spokesman told CNBC its information on journalists' access to officials' data usage was "untrue" but wouldn't specify how.

In any case, Bloomberg users in the financial community can't be too happy to learn about the shenanigans.

"On Wall Street, anonymity is critically important. Secrecy and the ability to cover one’s tracks is paramount,” Michael Driscoll, a former senior trader at Bear Stearns who now teaches at Adelphi University," told The New York Times.

"If Bloomberg reporters crossed that line, that’s an issue."

Video: Economist Predicts 'Unthinkable' for 2013

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Peter Orszag: Burwell's Big Chance to Control Healthcare Costs

Thursday, 17 Apr 2014 12:24 PM

In the past several months, healthcare costs outside Medicare may have accelerated, even as Medicare spending growth rem . . .

Morici: White House Strategy: Fabricating Fear and Injustice

Thursday, 17 Apr 2014 12:06 PM

Facing mid-term elections and burdened with persistently high unemployment, President Obama is playing the race, gender  . . .

Obama Budget Plan Would Boost Tax Revenues

Thursday, 17 Apr 2014 11:11 AM

President Barack Obama's fiscal 2015 budget request would boost U.S. tax revenues by nearly $1.4 trillion over 10 years  . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved