Saints Cap Moves: Derek Carr restructured, Erik McCoy restructured; J. Williams released; cap space is at -$8,543,537

That 100% sounds like caving. You wanted to keep Carr on a pay cut. He refused said pay cut. You restructure and give him all his money.
Please provide a link to Loomis, or anyone else on the Saints staff, saying they wanted Carr to take a paycut.

Triplett, Underhill, other repeaters and a lot of fans here wanted Carr to take a paycut, but as far as I know, not a single person who works for the Saints said they expected Carr to take a paycut.

A lot of assumptions with very little to zero substance to substantiate it.