Goldman Sach's reported positive earnings today easily exceeding consensus analysts expectations:
The Goldman Sachs Group, Inc. GS today reported net revenues of $13.76 billion and net earnings of $3.44 billion for its second quarter ended June 26, 2009. Diluted earnings per common share were $4.93 compared with $4.58 for the second quarter ended May 30, 2008 and $3.39 for the first quarter ended March 27, 2009.
Hopefully, this signals the beginning of the end of the recent economic downturn, and a faster than expected return on the trillion dollar investment taxpayers have taken on in debt to assist the nation's premier financial institutions through it. As the capital now begins to flow back, it's worth revisiting anew claims by politicians that Americans cannot afford a public healthcare option. Not only do Congress and seniors enjoy tax payer subsidized healthcare, somehow we're able to cover veterans, teachers, police, and firemen, not to mention convicted felons and captured terrorists, all while providing access to healthcare for large numbers of Iraqi's and Afghans either indirectly through the construction and maintenance of clinics and hospitals, or directly through the support of civilian and US armed forces healthcare emergency services.
It seems then a no brainer to anyone outside the beltway, that We the People who made all this possible at great expense and risk -- including in too many cases the ultimate sacrifice -- are next in line to receive our long awaited due from the officials we elected and whose salaries and healthcare benefits we pay. The same electorate that brought them into the political world, and approves of a public option across party lines by four to one, can and in some cases will decide next year that if Congress will not vote for them, they will not vote for Congress. Any sitting politician who does not take that seriously, and who refuses to provide and vote for a public option, is making a grave error in judgment.