For the past week, there's been a big brouhaha at Bloomberg over how reporters for the business news service have been using the company’s terminals to monitor employees on Wall Street.
Some reporters have apparently used that information to find leads for the articles they write.
Now Bloomberg has gotten former IBM CEO Sam Palmisano involved.
Palmisano will conduct a review of Bloomberg's privacy policies and help Bloomberg come up with rules on what reporters can and cannot do with terminal subscriber data, reports the New York Times' Amy Chozick.
Palmisano is a friend of Bloomberg founder Michael Bloomberg and sits on the board of his charity foundation, Bloomberg Philanthropies.
To recap: Goldman Sachs complained when it learned that Bloomberg staffers could see which of its employees had been logging into Bloomberg’s proprietary terminals. One reporter used that info as a lead for a story. She called Goldman asking if one of its employees had left the company, based on the fact that the employee hadn't logged into the terminal for weeks.
Goldman freaked and complained. Then complaints poured in from the likes of JPMorgan Chase, Bank of America and Deutsche Bank, and the Federal Reserve, Chozick reports.
So investigations have commenced, too. So far, Bloomberg has hired a top editor to come up with rules on how reporters can use terminal data, hired a law firm to investigate, appointed a compliance officer and now, asked Palmisano to conduct a review.
There's even some talk that Goldman might create its own Bloomberg-like terminal chat system.
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