Bush's economic analysis: "Wall Street got drunk," now hungover

President Bush had thought the cameras were off at a fundraiser in Houston, so he gave his candid -- and alcohol-related -- view of the economy. Oops.

Published July 22, 2008 10:02PM (EDT)

A reader just let me know about President Bush's latest piece of trenchant analysis of the country's economic situation. Seems Bush was at a closed fundraiser in Houston, Texas on behalf of a Republican congressional candidate last week, and had asked for the cameras to be turned off, but not everyone complied.

ABC News' Houston affiliate obtained some footage from the event, and the Houston Chronicle's Beltway Confidential blog has posted that video, which can be seen below. In it, Bush says:

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 to do all these fancy financial instruments.

And then we've got a housing issue. Not in Houston -- evidently not in Dallas, because Laura's over there trying to buy a house today.

By Alex Koppelman

Alex Koppelman is a staff writer for Salon.

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