But not for 50 million who don't have health care. Our USGOV will let the Robert Rubins,Hank Paulsons and others with government ties anchored with the NY Investment firm Goldman Sachs receive record bonuses again.
Treasury from Goldman: Steve Shafran (formerly of Goldman), Kendrick Wilson III (ditto), Henry Paulson Jr. (you guessed it), Edward Forst (yep) and Neel Kashkari (see a trend?).
The Guys From Government Sachs
Goldman To Pay Out Record Bonuses
Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.
A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.
Staff in London were briefed last week on the banking and securities company's prospects and told they could look forward to bumper bonuses if, as predicted, it completed its most profitable year ever. Figures next month detailing the firm's second-quarter earnings are expected to show a further jump in profits. Warren Buffett, who bought $5bn of the company's shares in January, has already made a $1bn gain on his investment.
And it goes on and on.
Seems surreal doesn't it that everyday we are told that the government can't afford public health care, that's it's too costly. But my Medicare costs me about 95 dollars a month.
So lets do a little math 50,000,000.(un-insured)X 95.00 = 4,750,000,000 Billion
Goldman Sachs received 10 Billions in bailout funds, enough health coverage cost for 50 million people for 2 years. Looks like they bilked the Treasury for money they didn't need.
And next year will even be better yet!
Last week, the firm predicted that President Barack Obama's government could issue $3.25tn of debt before September, almost four times last year's sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.