I know it's crunch-time for you, the elves and Mme Claus, but nevertheless, I reckon I've been reasonably good (excepting that naughty thing or two you must already know about), and so with that in mind, I submit to you my 'modest', scaled-down Xmas list...
With most heartfelt thanks on whatever you can swing,
- A complete boxed set of "Black Adder"
- An end to whaling and wholesale plunder of the oceans
- Some seriously steep cuts in the US military budget
- A US healthcare plan consisting of universal basic coverage, engaging a single-payor insurer of a mandatory-participation risk-pool funded through a VAT not forgetting to to remove corp healthcare-expense deductability, supplemented with a private market for supplemental cover.
- Sunshining of time-and-sales along with 13F as well as increasing filing freq. to monthly (delay still acceptable), including OTC swaps, derivs and all contingent exposures, separately detailed.
- A meaningfully large carbon-tax, particularly upon motor fuels, of perhaps 50% followed by several years of further flesh-extraction in order to quickly bring US energy policy into line with OECD peers.
- Debate and subsequent introduction of Electoral Reform including Preferential and Mandatory Voting
- A rapid decrease in developing world fertility rates.
- Elimination of CDS
- A diminishment of inequality between the rich and the poor
- A substitution of pragmatism for partisanship across the spectrum of American politics.
- An end to distorting energy subsidies in many emerging markets.
- An end to the dual mandate at the Fed (don't even ask which one we should kill)
- Peace between Israelis and Palestinians based upon a two-state solution, mutual respect and an agreement to administer Jerusalem as an international city.
- A raising of the mandatory retirement age for social security from 65 to 70 (until such time as The People can afford it).
- A resolve by financial institutions to counter-cyclicly RAISE collateral requirements and decrease the LTV ratio for new loans as asset prices rise over time and vice-versa as they fall.
- A separation of prop leveraged spec activities from publicly-regulated and insured banks.
- An end to the destruction of the rainforest and other fragile ecosystems.
- Better pricing of externalities, in general
- A marked increase in spec margins on global futures exchanges, a clampdown upon specs claiming hedge status and BD transformers assisting such actions, and an introduction of a "Tobin" tax
- Serious re-examination of monoculture and intensive fertilizer and pesticide use.
- A high windfall profits tax on bonus comp vested on short-horizons, with windfall rates diminishing to the prevailing marginal rate where said comp is accrued over long-horizons and and subject to claw-back.
- A heightened sense of the Public Interest in government & an end to corporate capture of The State along with its insidious rent-seeking,
- An extended spate of world peace would also be marvelous if you can swing it!
- Oh and for me, perhaps a pound or three of decent oily Italian-Roast coffee beans and a couple of drinkable bottles of LBV Port to sip by the fire...