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Geithner For Goldman ? Surely Not!

last updated: 19 September 2009
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The smart money says that US Treasury Secretary Tim Geithner will probably step down during Obama's second term (if he gets one), and head to Wall Street, where he can earn some decent money. And Geithner's most likely destination ? Goldman Sachs.

Well, we're not sure about that. First off, if Obama and Geithner have their way, no-one will be earning decent money on Wall Street within a few years anyway, and, secondly, a Geithner move to Goldman (of all firms) would be a slap in the face to Obama, who has spent much of his first term (so far) slagging off bankers and the financial system in general.

And talking of those good old boys over at Goldman, The New York Times reports that Barclays Capital  has issued a note saying that it is raising its earnings estimate for the firm, and now expects Goldman's third-quarter profits to come in around $2.5bn.

In the meantime, Reuters reports that HSBC claims that it has been the victim of a fraud perpetrated by President Obama fundraiser Hassan Nemazee. The bank has filed a $75m lawsuit against Nemazee, who was arrested in August and charged of defrauding Citigroup to the tune of $74m.

The news agency also reports that Deutsche Bank has walked away from talks to purchase a package of assets from ABN AMRO. The deal is thought to have broken down on price.

Finally, The New York Times DealBook column reports that Bernie Madoff's Montauk beach house is thought to have been sold for slightly more than the $8.75m asking price. The deal should close in a couple of weeks.

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