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Or how about the bank owners of CDOs, impossible-to-value instruments that have to be worth more if housing simply stops depreciating or even starts increasing. That takes the pressure off all of the insurance that AIG (AIG Quote) wrote on these, which gives the U.S. government still one more windfall. All of these occur if this plan succeeds.

I am hoping that Warren Buffett, who totally gets the plan, is going to be listened to by Congress. I hope they listen to how important he knows it is and how we will revert to last Thursday's obliteration and destruction, which I believe could wipe out probably a fifth of the S&P 500.

The math is pretty simple. The fact that there will be some winners who shouldn't win is a price we have to pay. Until this plan, everything that Ben Bernanke tried was piecemeal and designed to avoid any scrutiny. Until this plan, the government has simply been reactive to the damage, damage done in part because of a philosophy that pervades this administration, that a market unregulated is a market that is perfect.

This is the first plan that might cost us nothing and solves the problem, and yet this is the plan that gets the most resistance.

If this plan fails, I want nothing to do with this market except for the foodbank stocks. Sounds like Warren Buffett doesn't, either.

I am worried about the plan. It cannot be nickel and dimed. We cannot let Washington Mutual, the next Lehman, fail. We see what happens -- the unintended consequences of Lehman are still roiling us. We cannot have the largest savings and loan go down.

We also cannot have the commercial paper market go away, which is what the major industrial companies live by. All of these will happen in this country if the plan fails.