The almighty CBO, which the Obama administration meticulously built up as the ultimate arbiter of good policy, has scored the president’s proposed bank tax, and it ain’t pretty (emphasis added):

March 5 (Bloomberg) — President Barack Obama’s proposal to impose a $90 billion fee on financial firms that benefited from the government’s bail-out funding program would have a “small” effect on the companies and would be shouldered by customers, investors and employees, the Congressional Budget Office said.
“The cost of the proposed fee would ultimately be borne to varying degrees by an institution’s customers, employees, and investors, but the precise incidence among those groups is uncertain,” CBO said in a letter yesterday to Senator Charles Grassley, an Iowa Republican.
Customers would face higher borrowing rates and other charges, employees might receive less pay, and investors will face lower stock prices, the CBO said.

With the Volcker Rule DOA and the “every dime” bank tax a fiscal loser, the president’s war on Wall Street seems to be off to a rocky start.