Bail Out Wall Street, NO PROBLEM!
Bail Out the US Post Office after legislating their bankruptcy, BIG PROBLEM!
The US Post Office needs a cash injection. Nationalize the US Post Office to benefit the smooth running of the country and then act for paybacks with current interest rates as dictated by the Federal Reserve.
Or perhaps do a Lehman Brothers bankruptcy and let them reorganize their debt under Chapter 11.
Better yet, allow them to have a supervised reorganization like the car companies. Sounds like a plan.
by Hope Yen - Jul. 30, 2012 02:42 PM
Associated Press
The CEO and administration of the US Post Office has stated the current House Bill doesn't help! I'll be darn. It is skeptical anything the House does is helpful.
Bail Out the US Post Office after legislating their bankruptcy, BIG PROBLEM!
The US Post Office needs a cash injection. Nationalize the US Post Office to benefit the smooth running of the country and then act for paybacks with current interest rates as dictated by the Federal Reserve.
Or perhaps do a Lehman Brothers bankruptcy and let them reorganize their debt under Chapter 11.
Better yet, allow them to have a supervised reorganization like the car companies. Sounds like a plan.
by Hope Yen - Jul. 30, 2012 02:42 PM
Associated Press
WASHINGTON -- The U.S. Postal Service is bracing (click title to entry - thank you) for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency's solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.
With cash running perilously low, two legally required payments for future postal retirees' health benefits -- $5.5 billion due Wednesday, and another $5.6 billion due in September -- will be left unpaid, the mail agency said Monday. Postal officials said they also are studying whether they may need to delay other obligations. In the coming months, a $1.5 billion payment is due to the Labor Department for workers compensation , which for now it expects to make, as well as millions in interest payments to the Treasury....
