Goldman Converts Interns

Bloomberg reports that Goldman Sachs has made 600 fewer entry-level hires this year, and almost 90% of those who did make the payroll had previously interned at the firm.

In the meantime, The Wall Street Journal reports that Bank of New York Mellon CEO Robert Kelly, who last month sent an e-mail to his board saying that he wasn't interested in the top job over at Bank of America, has resurfaced as a possible candidate to succeed BofA CEO Ken Lewis. Kelly is thought to be interested in the firm now that it has repaid its bailout monies, and the new CEO will be free to run it without interference from the US government. Although Kelly has not been officially offered the job, the parties are believed to need only strike to a deal on compensation for a contract to be signed.

The newspaper also reports that fraudster Bernie Madoff appears to be adjusting well behind bars. Bernie is said to play bocce, chess and checkers and is regarded by his fellow con artists as 'the godfather, the don'. Looks like Bernie's conning thems in clink too.

And Reuters reports that Gartmore has lowered the price guidance on its IPO by a third, reducing the deal size to $559.9m.

The news agency also reports that the European Union has asked the International Monetary Fund to follow up on the idea of a global tax on financial transactions to build-up a fund to guard against future financial crises.

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