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George Bush Offers “Wall Street Got Drunk” as Excuse for Mortgage Crisis
Speaking at a private political fundraiser in Houston, Texas U.S. President George Bush offered some off-the-cuff remarks about what caused the current mortgage crisis that has sent the American economy into a tailspin.
With no members of the media in attendance Bush asked those at the fundraiser to turn off their cameras when he said “Wall Street got drunk” as an explanation to how the mortgage crisis evolved. Bush continued, “It got drunk and now it’s got a hangover.”
While many attending the event laughed, at least one recorded the clip on their cell phone and posted it on the Internet and caught Bush noting, “the question is, how long will it sober up and not try to do all these fancy financial instruments?"
Many questioned the President’s language but spokeswoman Dana Perino was quick to point out, “It is certainly a more colourful way of saying what he said before, but he's described it that way before in terms of his observations of what happened to the market.”
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