Jim Cramer's Best Blogs

The problem is that these details must not be allowed to derail the plan, because the depression is what we are trying to stop. If the regulators simply look the other way for now, house price depreciation can subside and many banks won't have to do anything at all.

3. Further, we are in a position where if the government sets a floor and we have different prices for different geographies, vintages, FICO scores and the like, then the private sector might want to buy them.

What would ultimately be the best thing to do is what Wachovia (WB Quote) wants: Split into good and bad banks and have the government buy stakes in the bad banks.

Whatever happens, we need to get on with it. We cannot get bogged down, because the issue is the fire, and it must be put out before unemployment skyrockets and banks fail nationwide.

At the time of publication, Cramer was long Goldman Sachs

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Ignorant Resistance to the Plan Is Baffling

Originally published on Wednesday, Sept. 24, at 9:27 a.m. EDT

Speaking of Warren Buffett, he is making it very clear that we are still on the precipice and will be right back to it if we do not approve the Paulson plan. That's the takeaway from his comments about the plan in print and on his excellent interview on CNBC this morning, which is a total must-view.

The resistance to this plan is amazing to me. It is a testament to how hard it is to explain that people are up in arms about it and the money that could be spent.