Discussing the U.S. Post Office’s insolvency and refusal to reorganize, banks admitting to unethical conduct in predatory lending practices which may hold them accountable for the wave of foreclosures, and the appointment of the new consumer watchdog, with Rep. Darrell Issa (R-CA); Rep. Jason Chaffetz, (R-UT); Rep. John Tierny (D-MA) and Rep. Elijah Cummings (D-MD).
The U.S. Postal Service needs to slash 260,000 jobs and end weekend delivery if it is to climb out of its “financially insolvent” condition, Rep. Darrell Issa said.
Despite a mandate to avoid deficits, the post office loses up to $15 billion a year, Issa told CNBC during an informal gathering of senior House Oversight and Government Reform Committee members.
“It’s not a debate about whether we need to get to that number. It’s about how we get there,” Issa said. “Do we get there by inducing retirements and finding ways to trim that workforce? Or do we wait for people to retire from an organization that has three fulltime employees that are 98 years old, literally.”
full story from CNBC