In case you missed it, the NYSE's summer interns rang the opening bell today. Adorable, etc, etc, etc, and a good excuse for us to talk fresh meat. What's the deal with everyone's child laborers this year? If you're working at a government-owned entity, were they offered the gig at a significantly reduced rate? Are they getting actual work to do what with most of the actual employees having been fired? Would you say they're exuding less cockiness on account of "the economy" or more, since they know you no longer have a BSD with which to slap them into submission? Verbal abuse/looks/freebies-- what's changed? Is management more or less likely to be okay with MD/intern "relationships"? Let's get into this.
Now You Listen Here: Tim Geithner's Bags Are Packed
Earlier today, it was reported that Timothy P. Geithner has informed people that he "plans to leave the administration by the end of January, even if President Barack Obama and congressional Republicans haven’t reached an agreement to raise the debt ceiling." Will this actually happen? Those unfamiliar with the Treasury Secretary's attempts to leave his post in the past will say yes. He's leaving, ship-shape. Those who've watched TPG try and fail to bust out of Washington for the last nineteen months, however, know better. More than likely, he's not going anywhere and it's not because deep down inside he doesn't actually want to go home but because his bosses won't let him. Witness, if you will, a small sampling of examples in which his requests have been denied, either directly (via someone laughing in his face) or indirectly (by giving those who've applied to replace him the wrong directions to their interview):
Business Insider: The Biggest Difference Between Investment Banking And Sales & Trading Interns Is That The Latter Are At Risk Of Kidney Failure
Cherish your unlimited bathroom breaks, investment banking interns.