JPMorgan Chase’s $2 billion trading loss is top news nationwide. But over at the U.S. Postal Service (USPS), such losses are business as usual. USPS reported a typical (for it) $3.2 billion loss for the most recent quarter. Try that comparison on for size.
You know what, Heritage. You’re right. Those two things are exactly the same. JPMorgan is legally obligated to set aside benefits for retirees in advance, and the U.S. Postal service is a voracious users of risky derivatives.
You’re good at trolling, but I’m great at sarcasm.