Gates of Vienna News Feed 9/4/2011

Gates of Vienna News Feed 9/4/2011The United States Post Office is facing possible insolvency if Congress fails to intervene to shore up the troubled institution. It faces a $5.5 billion shortage, and will have to cut services, raise rates, and/or lay off workers. The last option would violate its contract with the postal workers’ union, and would require congressional action.

In other news, Qatar injected €500 million into two major Greek banks, allowing them to merge. With their outlay, the investors acquired a 17% interest in the newly-formed bank.

To see the headlines and the articles, open the full news post.

Thanks to C. Cantoni, Derius, Insubria, Kitman, Nilk, RRW, T, Vlad Tepes, and all the other tipsters who sent these in.

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Caveat: Articles in the news feed are posted “as is”. Gates of Vienna cannot vouch for the authenticity or accuracy of the contents of any individual item posted here. We check each entry to make sure it is relatively interesting, not patently offensive, and at least superficially plausible. The link to the original is included with each item’s title. Further research and verification are left to the reader.