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FIX IT NOW - Plan to Actaully Solve the Problem by Karl Denninger

Karl Denninger offers this solution to the insolvency crisis.

http://www.youtube.com/watch?v=9KYtD-Ff_eM

1) All level 3 assets must be disclosed in full.

2) All over the counter derivatives must be moved to a public exchange.

    (All others are void.)

3) No more than 12:1 leverage.  8% reserves.

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Posted by Running_with_scissors on 09/21/08 at 07:02 PM

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Running_with_scissors

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Running_with_scissors

Paulson is asking for dictatorial power, with absolutely no accountability to the courts.  It amazes me the Mexican govenment has more transparency than this bozo.  This guy is going to rape the finances of a nation for the benefit of his buddies in secret.  This guy is another Carlos Salinas de Gortari, only 700 billion times worse!  After he rapes the treasury he will move abroad with billions to live in a castle just like Carlos Salinas.  Paulson wants us to believe lies, commit financial terrorism, threatening a nation to gain obedience, and never see the truth, never to question, never have transparnecy.

Support transparency!  Support honesty!  Support the truth!

All it takes is truthful accounting, Derivatives on exchanges, and proper reserves.  Paulson offers none of this!

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Running_with_scissors

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Out yesterday.  Paulson's plan prevents court review of actions taken under the plan.  This means nothing can be exposed in open court.  This means everything can be covered up, with no transparency to investors.  Isn't this a cover up?  All will be hidden?  Isn't the lack of transparency the way we got in this mess in the first place?  Are we just to invest in money markets covered by an opaque legal curtain of secrecy?  Are tax payers to subsidize a secretly manipulated market?  

http://www.youtube.com/watch?v=5yuJdMOwN1E&feature=user

I belive Paulson has lied before about the soundness of Fannie Mae and Freddie Mac.  This prohibition of court review means there is no legal power to expose any wrong doing.  It is license to do wrong at taxpayer and investor expense.

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Running_with_scissors

http://www.youtube.com/watch?v=5yuJdMOwN1E&feature=user

I believe Paulson is a technocrat asking for unquestionable power.

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INMHO

If the no court review is left in it will probably be challenged in court as unconstitutional.  We have 3 co-equal branches of government and it is not best 2 out of 3.  Congress can override a president's veto but only with a 2/3rd majority as provided in the Constitution.

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