Recently the United States Postal Service announced they could possibly default on their financial obligations if congress does not act on their behalf by the end of this month. About 4,300 post offices across the country face the possibility of being shut down along with approximately 250,000 jobs hanging in the balance.
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In a bold move on Sept. 2, the Federal Housing Finance agency filed lawsuits against 17 banks for their alleged practice of fraudulently selling close to $200 billion in securities linked to subprime mortgages. Several of the banks are major American financial institutions, who some economists say were nearly single-handedly responsible 2008's recession.
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