JPMorgan Chase has ramped up pressure on financial data and news group Bloomberg over snooping and privacy claims. These surfaced on Friday with a report that Goldman Sachs had complained about a feature of the Bloomberg data terminal that allowed reporters to see who was using its 315,000 terminals around the world (and what they were accessing). It soon emerged Bloomberg reporters were required to add to a huge database of personal and other information every time they contacted someone, especially key decision-makers.
Bloomberg management confirmed reporters could access terminal user information, but claimed it had been ended a month earlier after a complaint. JPMorgan soon let it be known it had concerns about how Bloomberg reporters had gained information during the "London Whale" trading losses story. Other clients, including central banks, led by the Feds, the US Treasury and others confirmed they had raised the subject.