views on markets, equities, bonds, derivatives, finance, investing, the economy

Bloomberg Spying Blowback

Stalk exchange - "A JPMorgan source said that it was galling to the bank to learn (through The Post story) that its initial suspicions were justified and that the practice was widespread. The source added that it was not an acceptable use of the firm’s data. The city’s fast money hedge funds also blasted the revelations. “Yeah, it bothers me — it bothers me a lot,” one executive at a Park Avenue fund said about the revelations. “Imagine the amount of information that could be gleaned by monitoring the searches and key strokes at the mergers and acquisitions departments of the major Wall Street firms? It makes me very queasy,” he says. Without a Chinese wall between its reporting and terminal-selling operations, Bloomberg has put itself into a corner, forcing it to reveal that “limited customer data has long been available to our journalists.”" (read more at link above)

No comments:

Business - Google News

Credit Writedowns

Central Banking