May 3 (Bloomberg) -- Warren Buffett, chief executive officer of Berkshire Hathaway Inc., said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns Co.
"The worst of the crisis in Wall Street is over,'' Buffett said today on Bloomberg Television." In terms of people with individual mortgages, there's a lot of pain left to come.'' Buffett was interviewed before the Omaha, Nebraska-based company's annual meeting, attended by about 31,000 people.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeLirKvQi5jw&refer=worldwide
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No pain if you signed a fixed-rate mortgage.
