Matt Taibbi, the journalist who coined the phrase ‘vampire squid’ to describe Goldman Sachs reports that:
a whistleblower complaint has been filed to the SEC identifying 16 of the world’s biggest banks and hedge funds … The complaint alleges that this select group of customers received (economic) data anywhere from 10 minutes to an hour ahead of the rest of the markets
In June it was reported that Thomson Reuters customers were getting the release of the University of Michigan Survey of Consumers two seconds early. I posted on it here and then here at the time.
Link to Taibbi’s latest: 16 Major Firms May Have Received Early Data From Thomson Reuters
