GeminiAtlas

Plan Black: How to Really End the Financial Crisis

The resemblence of a free market hasn't existed in the last 100 years. When the government keeps giving tax breaks for this, loopholes for that, pork for this, surtax on that, subsidy for this, money manuipulation every now and again, etc... is that what would be called a "free" market? Or as Morpheus in the Matrix would say "You think that's air you're breathing now?"

I would like to add to Plan Black the scrapping of the tax code and stripping out all loopholes, subsidies, surtaxes, and have a tax regime that doesn't punish or reward certain activities over others. Otherwise, how can a market truly be "free" as opposed to an illusion of choice.

On Jul 27 07:42 AM Moon Kil Woong wrote:

> I think plan black is called the return to free market. Has the concept
> of that really become that unbelievable and unrealistic? How far
> we have fallen in 2 short years.

Rescue Funds Fueling Buyout Deals Instead of Loan Increases

So let me get this straight, the government is bailing out banks which are "too big to fail," and then those banks turn around and get even bigger. That's hilarious. Law of unintended consequences at work again...

Lehman's CDS Mess: Who's on the Hook?

So what happens when the Gov't comes to the rescue of the banks which might have to payout on 21 Oct? Mr. Paulson will recapitalize the banks (to keep them from imploding), but that new capital will go immediately to pay off the CDS "winners." And there the gov't (and taxpayers) will be holding the bag of loser banks which would be fairly anemic due to the payouts. I would hope the winners will gladly lend to the losers some more cash, but for a high interest rates. I hope the players don't see the opporunity for "risk mitigation by giving it to the government." Then there could be rush by the players to put the whole exposure on the government which will kick the can down the road to a worse day of reckoning.
Also, PrudentMan, a term more appropriate for the power brokers would be cronyistic. Capitilistic=free market,