Now we'd like to take closer look at how losing power can grind a country to a halt. This week, India has been dealing with what is being called the world's worst blackout. Major power outages this week left well over 600 million people in the dark. Coal miners were trapped. Hospitals struggled with backup generators, and transportation was a mess, which had this man complaining to Al Jazeera International.
That rather ominous sounding pronouncement comes from Joseph Saluzzi, co-head of equity trading at Themis Trading LLC in Chatham, N.J., in a Bloomberg News report about what happened early this morning on Wall Street.
For the first time ever, the United States Postal Service has defaulted on a payment to the Treasury.
The USPS warned of a default in a statement on Monday. It it would not make the $5.5 billion payment due today and that it would also default on a $5.6 billion payment due Sept. 30. Both of those payments are federally mandated and go toward prefunding retiree health benefits.