Goldman May Take Action After Bloomberg Data Scandal

Goldman Sachs Blink

Goldman Sachs is mulling reducing its reliance on the ubiquitous Bloomberg terminals.

The New York Post reports that irked Goldman executives are weighing such a major move because they are still steamed about Bloomberg reporters using the data giant’s terminals to snoop on employees, the newspaper's sources said.

Goldman, sources said, is considering using encrypted Twitter accounts or creating such functions as a secure instant-messaging application that could be used within the trading community inside and outside of Goldman.

'There’s a lot of disruptive technology', said one person familiar with Goldman’s thinking. 'This (Bloomberg snooping) has given new energy to those ideas', the person said.

Even if Goldman doesn’t kick off its own Bloomberg-like services, it will look to be more 'aggressive' in placing limits on how Bloomberg uses its data.

Hit the link below to access the complete New York Post article:

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