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Thursday, January 21, 2010

Goldman Sachs announces yearly profit

Goldman just announced this morning that they made $13.4 billion in profits for the year.

That would cover the $12.9 billion the government handed them to cover their AIG losses quite neatly.

It's payback time. Or else it's torches and pitchforks time.

Obama is fighting an uphill battle on health care, but he certainly has populist sentiment on his side when it comes to Wall Street.


Anonymous said...

Nice idea, but of course taxpayers will never see any of the money handed over to Wall Street.

John Craig said...

Anonymous -- Thanks for your comment. My guess is they will see some of it, but in the form of some kind of windfall profits tax, which I have mixed feelings about. I have no mixed feelings about that AIG money, though: it should be repaid.

There's too much populist anger out there right now for Obama not to take advantage of it and get some kind of payment from Wall Street.