And then there was the taxpayer bailout of General Motors.

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While the company remains saddled with some ownership by the U.S. taxpayer, and the likelihood that the federal government will exit its oversight of General Motors with a significant financial loss, the company itself is in better shape now than in many years.

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Namely, the IRS states that rental real estate activities income might be included in either Part A of the NII composite, which includes general sources of investment income, and Part B, as being passive to the taxpayer.

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Obviously, the American taxpayer still owns huge chunks of both Chrysler and General Motors, Micki.

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So let me discuss what measures need to be taken by each of the auto companies requesting taxpayer assistance, and I'll start with General Motors.

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In the second case, involving a client Phillips successfully represented in a whistleblower suit against General Electric, the client sued him in California State Court, alleging secret financial ties between the taxpayer group and Phillips' firm.

FORBES

Fellow New York Rep. Jerrold Nadler, a Democrat, said there were "real constitutional problems" with using taxpayer dollars to rebuild structures such as religious sanctuaries and altars that are not used by the general public.

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"We think any fair and objective look at the facts would show that no bank at arm's length would make a loan to the McCain campaign in the situation it was in, unless they knew that if push came to shove, they could rely on getting the taxpayer money to help repay the loan, " says Joseph Sandler, the DNC's general counsel.

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