What You Need to Know About That Bloomberg News Snooping Scandal

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See on Scoop.itRwh_at

Simon Dumenco deconstructs the culture of the global news conglomerate that billionaire Mike Bloomberg whimmed into being. Remember that time Bloomberg News got caught using subscriber information from Bloomberg data terminals to spy on the financial industry? Oh, right, that pretty much just happened. But conveniently for Bloomberg, a bigger journalism-related scandal — the revelation that the Justice Department was spying on the Associated Press (a story that will haunt the Obama administration forever) — broke, overshadowing the Bloomberg scandal. You may have missed Bloomberg News Editor-in-Chief Matthew Winkler’s admission and apology, titled “Holding Ourselves Accountable,” that was published in the dead of the night last Monday — at 12:11 a.m. ET. In it, he owned up to the fact that Bloomberg News reporters had access to “limited client information” for Bloomberg’s financial-data-terminal business, a sibling division of the Bloomberg empire that serves more than 300,000 subscribers on Wall Street and beyond….

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