In a Toronto appearance late this afternoon, Warren Buffett said interest rate cuts by central bankers have made money more available and even inexpensive.
In response to a question referring to a 'credit crunch', Buffett said:
"I wouldn't quite call it a credit crunch. Funds are available ... Money is available, and it's really quite cheap because of the lowering of rates that has taken place. What has happened is a repricing of risk and an unavailability of what I might call 'dumb money', of which there was plenty around a year ago."