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Closing Arguments: Bush "Drunk" Comments

July 23, 2008 10:56 PM

President Bush made some unguarded comments at a closed-door fundraiser in Houston last week about the state of the economy and Wall Street's roll in the current troubles. No press cameras were allowed, but the comments were captured on a personal video camera. And they have created quite a stir:

“Wall Street got drunk. That’s one of the reasons I asked you to turn off your TV cameras. It got drunk and now, it’s got a hangover. The question is how long will it sober up? And not try all these fancy financial instruments.”

Well, today the White House played it all down, saying that the remarks were consistent with what the President has said in the past, just more descriptive. So, what do you think about it all?  Did the President have a point?  Should the President be so candid? And what about the release of such a video when it was a closed-door event?

July 23, 2008 | Permalink | Share | User Comments (73)

User Comments

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President Bush has relatively little understanding of what got the economy in the position it is currently in and an even weaker understanding of our failed monetary policy. The "inconvenient truth" of our current time involves the direct relationship between our economic woes the very nature of the Federal Reserve system, which is by FACT not a federal institution, but rather a conglomerate formed by private international bankers.
A little food for thought: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." -Thomas Jefferson

Posted by: James Lyons | Jul 24, 2008 12:18:16 AM

Glad people release such "behind-closed-doors" comments publicly! As a man elected and paid by America's citizens to serve their interests, there should be few justifiable cases where the President should be allowed to withhold information from them. His analysis of the Wall Street situation, like most of his thinking, is simplistic and superficial. Not surprisingly, it brings no useful wisdom to the current crisis.

Posted by: David Greene | Jul 24, 2008 12:18:39 AM

When someone is right they are right.

Posted by: bpower | Jul 24, 2008 12:18:43 AM

Just another on a very long list of very inane remarks. His stupidity is one thing he will definitely be remembered for.

Eloquent, honest, intelligent or most importantly, PRESIDENTIAL he is NOT!

Posted by: Kate | Jul 24, 2008 12:21:03 AM

If our esteemed electorate had been hitting the bottle a little less during Bush the Seconds's first run for office, we'd be hearing less of this trademark inarticulate drivel now.

Posted by: Steven L. Swart | Jul 24, 2008 12:21:37 AM

I agree with Pres. Bush and that was not the dumbest statement you ever heard either. You want change I assume??? You will be hollerin "calf rope" if that happens, and that was the dumbest sentance I ever read, too

Posted by: Mary | Jul 24, 2008 12:21:56 AM

The individual who released this clip should be ashamed of themselves releasing this clip. It's no wonder our President can no longer be an individual; they must be without flaw 24/7.
Yes he had a point and there is nothing wrong with being succinct and colorful in his statements.

Posted by: David | Jul 24, 2008 12:22:08 AM

I think Pres. Bush should be allowed to talk candidly. And if it's closed to the cameras, then those videoing it should be punished. It is sad to think our politians can't be candid. What info we would receive if they were honest. It's sickening to know they say what they think is going to get them elected -mostly lies. How pityful.

Posted by: Stephanie | Jul 24, 2008 12:23:53 AM

President Bush is so completely out of touch with what real Americans are going through! How at this point can he try to shift blame and make jokes about the housing crisis and the tanking economy while so many of us are in such real trouble?! It's shocking and sad!

Posted by: Char | Jul 24, 2008 12:24:11 AM

Cynthia McFadden's sneering tone always gets my attention because I know she's got her claws out ready to pounce.  Too bad the news media is always so quick to put their spin on every single thing a person says.  Why don't you just report the news without the attitude all the time lady.

Posted by: DARI | Jul 24, 2008 12:25:25 AM

I'm glad someone released Bush's Wall Street comments publicly. He was elected and is paid by American citizens to serve their best interests. There should be precious few situations where he should be allowed to conceal his activities from us. The comments themselves were, like the rest of this man's thinking, simplistic and superficial. Not surprisingly, they contribute no useful wisdom to our grasp of the current crisis.

Posted by: David Greene | Jul 24, 2008 12:25:54 AM

Bush is exactly right....and this is the main reason taxpayers should be forced to bail them out of the housing market fiasco.

Posted by: memchee | Jul 24, 2008 12:31:45 AM

We are soon to be losing a man with what it takes to stand with his convictions. This president speaks his unrehearsed politically incorrect opinions that every other politician can only aspire to be able to achieve again in my lifetime. While other politicians backtracks saying I have been taken out of context, ECT. Let’s be thankful someone speaks what they think to the public.

Posted by: Walter Schwartz | Jul 24, 2008 12:33:17 AM

Maybe Wall Street needs to join Friends Of Bill.

Posted by: Snarxon | Jul 24, 2008 12:35:55 AM

Just goes to show you how a person like bush will speak when he thinks he is behind closed doors, where he has been hiding for the past eight years. and it definitely speaks for itself "IT TAKES ONE TO KNOW ONE"

Posted by: anna steele | Jul 24, 2008 12:36:14 AM

Given he assumed he was speaking off camera we must consider the fact we have all at one time or another wish we had chosen different words. Given the fact he is president you would hope he has fewer of those. This ranks with the vice president's comment about having Chaneys on both sides of his family tree. I don't think either of these guys give a darn about making America better.

Posted by: Tony | Jul 24, 2008 12:36:45 AM

How can he be so cold and callous. A lot of people's 401K are crashing with the market.

Posted by: Jen | Jul 24, 2008 12:37:20 AM

Im not always the biggest fan of our President, but this time I will take his side.

Have you seen the latest Business Week - it says about the same thing, "How Wall Street Ate the Economy" and it has.

So on this issue, i agree with Bush and think that its also strange that the commander in chief asked for people to trun off their video recorders, thats also a cheap shot.

Posted by: daniel munn | Jul 24, 2008 12:42:18 AM

So, basically, what I am getting from things so far is that Bush supporters think that it doesn't necessarily matter the lack of intelligence within the remarks, so long as he has the guts to say what he thinks. To me, that sounds a lot like a John McCain voter there. Both sound as though their economic education consists of an introduction course at the community college. As for the Obama supporters, I hear a lot of talk about change and hope, but with little substance behind it. He offers no solutions for the problems our economy will face in the upcoming years, since his policies should have the same effect as the erroneously spending neoconservatives.

Posted by: James Lyons | Jul 24, 2008 12:44:50 AM

Right on Mr. President, I couldn't agree more. Why shouldn't he be able to talk frankly and dispense with the crazy political correctness. All we hear from Obama is what he thinks we want to hear to elect him. Bush at least speaks his mind.

Wall Street, the mortgage market and home buyers went totally nuts the past few years. How the heck could a 1000 sq ft home in certain parts of the country be worth more than the net worth I've gathered in my lifetime with a technical college degree? Greenspan was understated when he called it "irrational exuberance". It's much worse!

Posted by: Craig | Jul 24, 2008 12:49:05 AM

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