The one and two ion beam instability is considered as a possible explanation for the observations of broadband electrostatic noise in the plasma sheet region of the geomagnetic tail. When only hot streaming plasma sheet boundary layer ions are present, no broadband waves are excited. Cold, streaming ionospheric ions can generate electrostatic broadband waves propagating in the slow beam acoustic mode, but the growth rates of the waves are significantly enhanced when hot boundary layer ions are present. (Both the slow and fast beam acoustic modes can be excited, depending on the relative ion drift.) This model predicts that the wave intensity of the broad band noise should peak in the plasma sheet boundary layer. Observations of less intense electrostatic waves in the lobes and plasma sheet are likely a result of the absence of hot ion beams or large ion temperatures, respectively, which result in smaller growth rates. The ion beam instability may play an important role in the formation of central plasma sheet.