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Bank of America, BNP Paribas, Goldman, JPMorgan, Galleon Group

last updated: 5 November 2009
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Now that former Goldman chairman and co-CEO Jon Corzine has lost his bid for re-election as Democratic Governor of New Jersey, speculation is mounting about what the 62-year-old might do next.

Now rumor has it that President Obama would like to give Corzine a job in his Administration, but his past connections to Goldman may make this politically difficult at this time. So, speculation is rife that Corzine could be a long shot for the CEO vacancy over at Bank of America.

And Reuters reports that the bank's consumer and small business chief, Brian Moynihan, has said that anyone would want the open CEO job, as running Bank of America is 'one of the best (jobs) in the business'. Strange, then, that so many folks are said to have run a mile from it!

In the meantime, CNBC reports that former Merrill Lynch CEO John Thain is to emerge 'from his self-imposed seclusion' and deliver the opening remarks at the Global Alpha (hedge fund) Forum Thursday.

And Bloomberg reports that BNP Paribas has posted a 45% increase in its third-quarter profit, helped by the assets purchased from Fortis and a strong performance over at its investment bank. Net income came in at $1.9bn.

The Financial Times reports that traders over at Goldman Sachs posted only one daily loss during the firm's third-quarter, and made over $100m profit on 36 of the 65 trading days in the period.

Associated Press reports that JPMorgan Chase has agreed to pay over $700m to settle charges that the firm made illegal payments to US public officials in exchange for municipal bond business. The company settle without admitting or denying wrongdoing.

Finally, Bloomberg reports that the insider trading trial of hedge fund Galleon Group founder Raj Rajaratnam will begin on August 2nd.

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