The never ending Three Card Monte Game - Obama Warns of POSSIBLE TAX on Banks

[Vinnie From Indy]

Call me a cynic if you will, but this latest announcement by the Obama Admin. that they are considering initiatives to tax banks to recover TARP funds given over the last few years seems to be setting the American public up to be hoodwinked once again.

Notice that these considered taxes are aimed at banks and not bankers. Is there any doubt whatsoever that if "banks" are taxed that the taxes will be immediately passed on to customers? And, when I use the words "customers" I mean the general public. Many countries in Europe are aiming similar taxes at the PEOPLE that are receiving obscene bonuses.

Is this just another politically timed bit of smoke and mirrors to quell the rising outrage in the country over this years record breaking "bonus season" on Wall Street?

If Obama were truly serious about reigning in Wall Street and protecting the average American he would aim his tax consideration at the folks receiving bonuses and he would, more importantly, declare efforts to break these financial institutions up. I doubt that will ever happen.

It seems to me that America has in it's future some legislation with a great sounding title that will be passed by Congress and signed by the President that does nothing but protect Wall Street at our expense. Watch and see how this new tax consideration will be hailed as victory just like the Credit Card Reform Act and HCR are hailed as victories. Suckers!

Our representatives in Washington keep telling me that they represent the American public and not huge corporate interests and all I hear anymore is the cry of the Three Card Monte barker - "watch the little lady son, just keep watching the lady as she moves around the board, you can do it, it's easy".

[DJ13]

1. Its a smoke screen to offset the expected anger over the upcoming bonuses

Anger that WILL focus on why Obama and his administration did deals with the banks that have resulted in them continuing to ripoff the average person while reaping huge rewards for themselves.

[subterranean]

2. BINGO.

The "consideration" of new taxes on banks will be trumpeted until any public anger over the huge bonuses blows over. Then the whole idea will be forgotten.

[Romulox]

3. Obama WH has two moves: 1) good cop/bad cop; 2) run out the clock

This is an example of the second species. Precisely the same as when they ran out the clock on the Wall Street bonuses this past Spring. Remember?