WELFARE FOR THE RICH by Frank Corbin As we all know, the US financial system is currently in a mess. Institutions like Fannie Mae, Freddie Mac, Bear Sterns, Lehman Brothers, Merrill Lynch, Bear Stern, AIG and now Washington Mutual are struggling to keep their heads above water. These organizations are either declaring bankruptcy, being bought out by other big financial institution or looking at the US Government for a financial life-support. As with any business model, we must admit … [Read more...]