Some credit scammers get caught

While others get away mortgage free. Probably the most galling of the debt forgiveness scam was the credit card "forgiveness." Imagine all those people charging new makeup, shoes, trips to Cancun, new furniture on their credit cards and having the GOVERNMENT (the government has no money, incidentally, so that would be YOU and ME) pay off their debts. Now (sob) they are going to have to PAY something for that little treat.

Roughly two million embattled Americans got credit-card relief last year -- getting banks to cut their huge card balances, thus allowing them to crawl out from under the giant debt bus and get on with their lives.

Well, surprise, here comes a second bus to run them down: that forgiven debt is considered income and Uncle Sam wants his share.

That's right, two million temporarily overjoyed people are going to have to pay income tax on the forgiven debt.