United Subsidy of America part 2..and your Clunker is Taxable

First big surprise....trading in your clunker for 4500 dollars is TAXABLE...OOPS, talk about forgetting to tell the American consumer that....

Wow...Subprime lenders getting subsidies to write out loans..what a shocker....NOT...

lenders are eligible for taxpayer subsidies to lower the mortgage payments of distressed borrowers. Of the top 25 participants in the program, at least 21 specialized in servicing or originating subprime loans, according to the center, a nonprofit investigative reporting group funded largely by charitable foundations.

Much "of this money is going directly to the same financial institutions that helped create the sub-prime mortgage mess in the first place," Bill Buzenberg, executive director of the center, said in a statement.

For example JP Morgan Chase, Wells Fargo and Countrywide, are eligible to receive billions of dollars under the program, according to the report.