Finance holds another meeting on bank tax

The chief goal of the meeting is to turn into legislation President Barack Obama’s call for a tax on banks that engage in risky behavior. It’s unclear what shape the tax would take, though staff have talked about a tax that would be applied to a bank’s income, lobbyists and staffers said.

A similar meeting took place in March and produced very little.  

At that meeting, financial executives seriously questioned the effectiveness of tax and warned it might create other headaches. They also asked about the underlying policy goal behind the initiative since, at least publicly, it seemed to punish firms from the recent collapse of the financial markets.