That rather ominous sounding pronouncement comes from Joseph Saluzzi, co-head of equity trading at Themis Trading LLC in Chatham, N.J., in a Bloomberg News report about what happened early this morning on Wall Street.
For the first time ever, the United States Postal Service has defaulted on a payment to the Treasury.
The USPS warned of a default in a statement on Monday. It it would not make the $5.5 billion payment due today and that it would also default on a $5.6 billion payment due Sept. 30. Both of those payments are federally mandated and go toward prefunding retiree health benefits.
Originally published on Sat August 4, 2012 12:04 am
Canadian rower Michael Braithwaite is pumped and probably a little nervous. It's the day before the double sculls (two person team) competition at the London Olympics and the British Columbia native is hoping his strong arms and shoulders will bring him gold.