Right now I am wondering if Warren Buffett will be in or out of the money on GS come morning if Paulson hasn't rammed through his deal.

I understand the concept of the "plan", but nobody has been able to explain how buyers and sellers will get together and find price points for this garbage paper. Real estate is not a malleable commodity like oil, cotton, or grain. You can't load it on a freighter and the oversupply of houses is staggering, forgetting for a moment all the half-built tract home Chernobyls. It it has a toilet and a fridge, it is on sale.

IMHO, it will be people on a localized basis with the nads, knowhow, and Beacon score to make it happen, not money managers appointed by the Feds.

__________________