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A letter to the editor in the Wall Street Journal - Assignment Example

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Summary
It is absolutely wrong to infringe on the privacy of the customers of another business as is the case with Bloomberg personnel having used data from its clients among them Goldman Sachs Group Inc. and J.P. Morgan Chase for its own benefits.
This is wrong since, as expressed by…
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A letter to the editor in the Wall Street Journal
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A letter to the editor in the Wall Street Journal

Download file to see previous pages... If the customers trusted the banks with their personal information and not Bloomberg, their choice should be respected and not tampered with. Though Mr. Thomas Nides, the vice chairman for Morgan Stanley says that Bloomberg is “…assuring customers this was a mistake and that they are going to rectify that,” Bloomberg should do more than apologizing. It should even be sued for infringement on people’s privacy and pay the affected customers damages as determined by courts.
This is to keep off other firms from repeating such activities in the future. Another thing that should be done is that the affected firms, among them Goldman Sachs Group Inc., should put into place measures that will ensure that no data is leaked from their databases to unauthorized parties. This case involved a firm (Bloomberg) that has taken measures to protect its name. Next time it could involve a hacker or any individual with criminal activities. Thank ...Download file to see next pagesRead More
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