Geithner defended the fee against criticism from some bank officials, who say it is about politics and not economics. Those critics note that some institutions that paid back Troubled Asset Relief Program money ”” or never took any ”” will be taxed along with other banks.
“We’re doing what is fair, and what is just, and what is economically sensible and what we have a legal obligation to do, which is to make sure that we hold the American people harmless from the cost of the financial crisis and that we collect back from the financial industry that benefited from the financial rescue the ultimate costs of what it took to solve this crisis,” Geithner says. “That’s the sensible, fair thing to do.”
Geithner says the program was designed to apply to the largest financial institutions that benefited the most from the rescue.
Uhh, and where does he think the banks are going to get the money to pay these taxes? Or is the tax also going to provide the banks cannot raise interest rates, fees or charges on customers?
Fair and sensible” and “sensible and fair” to attach to all the failures of the rescued? This is a further control gambit so that all that could be wrung out of a good crisis is given into the the planners hands. This is an appeal to fairness and justice that smacks of its employment in the EcUSA/tEc. And we know how the oligarchy employs it………….