Listen to Warren.

I'm far from a Wall Street wiz. Hell, I'm an artist - probably the furthest thing from a finance or business person. But I think it's probably a good idea to listen to the most successful investor of all time in the current financial situation.

Warren Buffett briefly spoke with Fortune magazine about an idea he had for a modified Bail Out Plan. He proposes that the government put up 80% and turn to private investors for the other 20%. That would assure the government get the market rate for these bad assets and would give the government a better chance at getting most of its money back. Buffett even says the government could see a profit out of this alternative.

On the other hand he also said he didn't think $700 billion was enough - but he neglected to say what sum would do the trick.

My question for Buffett's plan is - are there enough willing and, more importantly, able private investors who could come up with $140 billion or more?? I know I don't have it.

See the full Fortune article here: http://money.cnn.com/2008/10/02/news/newsmakers/buffett.fortune/index.htm?postversion=2008100216