Government’s Business Results

The U.S. Postal Service reported a Q3 loss of $3.5 billion:

WASHINGTON, Aug 5 (Reuters) – The U.S. Postal Service reported a quarterly net loss of $3.5 billion on Thursday and said it will likely have a cash shortfall going into 2011.

The agency, which delivers nearly half the world’s mail, has reported net losses in 14 of the last 16 fiscal quarters.

Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers’ compensation costs and retiree health benefits.

Here.

Fannie Mae reported a Q2 loss of $1.2 billion:

Fannie Mae, the mortgage-finance company operating under federal conservatorship, is seeking $1.5 billion in aid from the U.S. Treasury Department after a 12th straight quarterly loss.

A decline in costs from bad loans helped narrow the second- quarter loss to $1.2 billion from $14.8 billion in the same period a year earlier, the Washington-based company said today in a filing to the Securities and Exchange Commission. Fannie Mae has accrued more than $148 billion in consecutive losses since 2007, according to data compiled by Bloomberg.

Here.

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