Bruce Krasting: Good news from Treasury! Tax-Payer’s Bank Ramps Up Assets:
"The deep thinkers at the FFB have this [for the Post Office] figured down to the penny! An “elegant” solution, at that. Near zero cost of debt and the willingness to lend more principal to receive interest (keep the loan “current”) avoids a stinky problem in an election year. An artful kick of the can that almost no one sees."
http://brucekrasting.blogspot.com/2012/01/tax-payers-bank-ramps-assets-up-at-18.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BruceKrasting+%28Bruce+Krasting%29