“Wall St. got drunk” according to George W. Bush

July 23, 2008 by · Leave a Comment
Filed under: Industry News 

Reuters posted that a cell phone camera recorded a conversation that our current president George W. Bush had during a fund raising event for Texas representative Pete Olson.  This conversation was posted to the YouTube video-sharing website.

He was talking about the current “subprime” real estate crisis and how Wall Street got drunk during the extremely low interest rate we had after the bursting of the internet bubble and post 9/11.  Bush was quoted saying “There’s no question about it. Wall Street got drunk,” “It got drunk and now it’s got a hangover. The question is, how long will it sober up and not try to do all these fancy financial instruments?”

Here is the Reuters Release about the comments

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!