[muawiyah]

The USPS used to have independent borrowing authority but Congress decided to restrict them to borrowing through the Treasury because, get this, the rates were lower, and costs of servicing the loans were far less ~ and actually, the rates were sometimes lower, but the costs of servicing the loans went through the roof since the Treasury isn't all that efficient ~ they just say they're efficient ~ but they're not.

See your Congress-critter on that one BTW ~ it's the law ~ not a management decision!

Marvin Runyon is the guy who fired the USPS finance VP because, as it turned out, he was using private sector banks. Marvin was one of Ronald Regan's buddies ~ and also my cousin Senator Alexander's friend for that matter. (again, small world at the top). Republicans decided USPS shouldn't use private sector banks!

[dinodino]

That’s interesting, but changing the lender isn’t going to fix the USPS’s largest structural problems: a rapacious labor union and an obsolete business model.

The proper fix at this point is to revoke the USPS monopoly on letter carriage, revoke all their taxpayer funding facilities, and cut ‘em loose to sink or swim. If they go bankrupt, TFB.