Jack: Warren, Jack. There are 40,000 consumers in Boston who hope like hell that Jordan's loses that bet and ... (Warren laughs) .. your insurance payment has to be made.

Warren: There's going to be a lot of free furniture in Boston. (Laughter.)

Jack: 40,000 people went in and loaded up.

Warren: Yeah, well, that sounds about right, Jack. (Laughs.) I figured you were one of those that bought furniture there when you got (inaudible) the Red Sox won the World Series.

Jack: Absolutely.

Warren: When you're coaching they'll probably take it. (Laughter.)

Carl: Warren, I don't want to keep you too long, but, is there anything that the Chuck Princes of the world of the Jimmy Caynes of the world can do to whet your appetite for some of these names that are obviously getting a lot of attention?

Warren: It's always possible, but, we haven't done anything, but, well, it depends on whether you're talking about the securities that they own or whether you're talking about their own securities. Jack's my advisor on brokerage stocks. (Laughter.)

Joe: That whet my appetite. Would it, so you like some of the securities they own maybe more than the securities of the banks themselves?

Warren: Well, I do think there could be possibilities down the line, although we haven't seen it yet, but there could be possibilities down the line in some distressed paper. But my guess is that there could also be a lot of money lost in distressed paper, too. It's very hard to figure.

Joe: OK, I'm just going to try one more time on a big picture thing, Mr. Buffett. And that is, the rate cuts we're getting from Bernanke and company right now, are we getting enough benefit from the rate cuts to make up for the decline we're seeing in the dollar?

Warren: Oh, I really, I really don't know the answer to that. the Fed is ... (silence).

Joe: See, he doesn't want to answer that one. I want to try one more time but it looks like we lost him.

Carl: If we lost the signal, it was the best-timed phone signal ..

Joe: He doesn't weigh in, really, on big policy things, like that.

Carl: He says he's not an economist. He's said that for years.

Joe: But he makes bets on the dollar. Huge bets on the dollar. He ..

Carl: He was wrong for awhile but he's been right, in a big way.

Becky will continue to report on her experiences On the Road with Warren Buffett both on CNBC's Squawk Box (6a-9a ET weekdays) and here on Warren Buffett Watch.