No. of Recommendations: 2
FHA losses hit $16.3B. The Federal Housing Aministration's projected losses amounted to a much larger-than-forecast $16.3B at the end of September, an annual independent report shows, with the agency holding reserves of $30.4B vs expected losses of $46.7B on the loans it has insured. A bailout of the FHA, which is suffering badly from backing loans made from 2007-2009, is getting ever more likely, although a decision won't be made until February.

Postal Service's losses soar to record $15.9B. The U.S. Postal Service's FY loss more than tripled to $15.9B, mainly due to defaults of over $11B. Revenue slipped 0.8% to $65.2B as mailing volume declined 5%, although online shopping helped boost package revenue 8.7%, suggesting it's not all doom in the Internet age. However, paralysis due to Congressional control, as well as labor costs, continue to maim the USPS, with the latter accounting for 80% of expenses vs 61% at UPS (UPS) and 41% at FedEx (FDX).
I can't wait til Obamacare really kicks in, think of the compassionate care and the savings, meep.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.