Thoughts on this?
It seems like depending on which news source you're reading, the story is definitely tilted one way or another.
For example, the Daily Beast makes it seem like Michael Bloomberg was directly involved in this alleged scandal, and that he and his constituents were "spying" on Wall Street banks and The Fed.
From a very high-level perspective, it seems to me that the only information that was actually obtained by the Bloomberg reporters was typical log-in statistics, such as times logged on, times a certain function was used, how many help-desk requests were input, etc. I doubt these reporters had in-depth, specific information that could be used for illegal purposes.
It also seems to me that most employees that work for Bloomberg probably had access to these types of stats from the beginning of their employment, and one day a reporter was like "dude, check this out: I can see how many times GS viewed the yield on 10-year bonds".
I have no leanings one way or another, just curious to hear WSO's thoughts.
Was it just log on stats...someone at GS had logged on for awhile so the reporter called and asked if they were still employed? If thats the case this seems over blown and not a big deal at all. I assume all type of help desks would have this type of information.
Knowing who is using what types of functions is a tremendous amount of information and a breach of expected privacy and trust on Bloomberg's part.
For instance, they could see that a bunch of people at $PEshop were analyzing $company, and they could report "$PEshop considering buyout of $company" or even "$company potentially in play". Does that seem reasonable to you?
I was under the impression that all they could see was login stats?
@Justin 88,
I don't think any of the articles I read indicated that the data provided specific information as you mentioned, and even those who were the whistle blowers refrained from making statements as such.
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