Remember, this was the mainframe era, and these were dumb terminals, not the fat clients built on Intel processors and Microsoft software in use today.

FORBES: Bloomberg Isn't The Only Company Able To Spy On Users

Although Schwab says it has no plans to offer a full advisory service, only aids to self-help, the fee-based financial advisers to whom it currently refers counsel-seeking clients (in return for a fat commission) fear that is where it is heading.

ECONOMIST: Money managers