Michelle Malkin » “Financial Crisis Responsibility Fee” = The Cover Tim Geithner’s A** Tax

Michelle Malkin » “Financial Crisis Responsibility Fee” = The Cover Tim Geithner’s A** Tax

The White House unveiled its ballyhooed $90 billion plan to punish banks with a “Financial Crisis Responsibility Fee” this afternoon. It’s faker than the fake garden vegetables the First Lady served up on Iron Chef.

How does this fakery grow?

1. The bank tax will inevitably be passed on to consumers and the White House has no way of stopping them from doing the dumping.

2. The tax won’t apply to non-banks, black holes Fannie Mae and Freddie Mac, or the bailed-out auto companies.

3. This isn’t about getting “our money” back. It’s about redistributing it again under the guise of faux populism.

More to the point, this is what I call the Cover Tim Geithner’s A** Tax. Making banks the whipping boys takes the heat off Geithner for his incompetent, complicit, and transparency-subverting tenure as New York Federal Reserve chair.

Obama corruption