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Morning Money Links: A 'transactions tax' debate may be next up; Consumer Financial Protection Agency, DOA? The return of Gordon Gekko

January 15, 2010 | 11:54 am

--- Now, on to the next tax-hike proposal: Besides Obama’s proposed “fee” on the biggest banks, Congress may take up the idea of a Wall Street “transactions tax.” Hedge fund titan Cliff Asness calls the idea “dangerous and destructive.” Burton Malkiel and Vanguard Group's Gus Sauter also say the concept stinks. But Steven Pearlstein says it would be a lot more "intellectually honest" than the big-bank tax.

--- Consumer Financial Protection Agency, DOA? Sen. Chris Dodd (D-Conn.) apparently is willing to scrap the idea of establishing a separate watchdog agency, if Republicans who hate the idea will agree to advance the broader financial-sector reform bill. The Wall Street Journal had the story first; Bloomberg also weighs in.

--- Credit-card delinquencies ease: Bank of America says late payments on cards fell to an 11-month low in December. The picture also improves for American Express and some other card giants.

--- Gordon Gekko returns: And this time, he's a Wall Street hero? Say it isn't so.

-- Tom Petruno