Friday, September 26, 2008

On futher reflection

The more I think about it, the more I like Paulson's original plan -- markets are too dynamic to micromanage a government sponsored market manipulation. Every addition added to the Paulson plan increases the number of ways that markets could outsmart it and thereby decreases its chances of success.

However, I would change the clause Paulson's plan is the part where he declares that the decisions of his team would be above the Supreme Court, or any legislative or executive or judicial authority, and replace it with the stipulation that dust settles, a jury of twelve randomly selected Americans will review all actions of his team, with the right to impose any penalty they see fit -- including death by firing squad -- if they decide that he and his team have behaved in an unpatriotic way.

If Paulson really is a Patriot, and his plan is on the level, then he has nothing to worry about.

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