President Bush: 'Wall Street got drunk'
Click the Play Button to see what Jack and our viewers had to say.(PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
In case you're wondering why our economy is in the toilet, President Bush had the explanation at a closed Republican fund-raiser in Houston last week:
”Wall Street got drunk – it’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.”
The depth of the intellect at the very top of our nation's government is staggering, isn't it? Quite an assessment coming from a reformed alcoholic. The president had apparently requested that those attending the event turn off their cameras, but the comments were recorded and started popping up on Texas news outlets.
The White House grabbed their brooms and immediately began sweeping up after him. They say Mr. Bush was referring to the fact that, "the markets were using very complex financial instruments that had grown up over the years, and when confronted with the shock of this housing downturn, they did not fully understand what the consequences were going to be."
Problem is, that doesn't sound at all like the president saying "Wall Street got drunk." It's that kind of shallowness that has created an appetite in the American public and overseas for someone like Barack Obama.
King Abdullah of Jordan actually cut short his vacation this week so he could meet with Obama. It must be like someone who works in a nursery all week finally getting a chance to have a conversation with an adult.
Here’s my question to you: What do you make of President Bush's assessment that "Wall Street got drunk" when it comes to the ailing economy?
Interested to know which ones made it on air?
Kim from Portland, Oregon writes:
Unbelievable! This guy is whacked out of his mind! I cannot believe that is the leader of our country; it's embarrassing and shameful. And there are still idiots who are going to vote for more of the same with McCain. Never have I wished for winter so badly as now, November cannot come soon enough! This utter joke, and his evil cabal, need to vacate OUR White House!
Greg from Dallas writes:
What’s next? Baghdad got drunk. Tehran got drunk. Halliburton got drunk. Katrina got drunk. How many days left?
Ron writes:
He is right. Investor greed, lack of common sense, and a SEC/Congress that changed the investment bank restrictions several years ago. We still have loan companies that target Hispanic-speaking persons, mortgage companies that still target people without basic math skills, and a Congress with the collective intellect of a peanut.
Sky writes:
That's the alcoholic answer to everything. It's their get out of jail free card. "I didn't mean to hurt your feelings, I was drunk." "I didn’t even see the kid run out in front of me, I was drunk." "Sorry about your couch, I was drunk." "Sorry about America going down the toilet, we were drunk."
Ryan writes:
I think the statement is being blown out of proportion. I think we all know what the president was trying to say. I see no problem with him using such a metaphor in a room full of adults while he thought he was off the record. Heaven forbid a president shows some sort of sense of humor.
Fred from Surfside Beach, South Carolina writes:
Jack, If Wall Street got drunk, it was the Bush administration who supplied the booze.
Winston from Berrien Springs, Michigan writes:
Yeah, but not half as drunk as I got after I watched my 401K go straight into the toilet.
@jackcafferty on Twitter
If Wall Street got drunk, Bush was serving the drinks.
Ray Kinserlow
Lubbock, Texas
How descriptive...and how lacking in perception. The stock market has been on a rollercoaster for months, if not years due to Bush's failed policies on the economy. Duh. How many days do we have left with this buffoon?
He recognises a drunk when he sees one.
Without a speech writer he flops by revealing himself too much. But then he frequently flops even with speech writers. 2009 will bring relief if we
don't have a successor like him.
typical bush, take a serious problem and give it a stupid, flippant response, pretend you know what your talking about, blame the dems and congress,and then forget about it quickly.
I think it reflects the mindset of a ruthlessly partisan President who was drunk with power and still won't admit it. And isn't that the first step, admitting you have a problem? C'mon January....
Hi Jack:
I think it is a sobering thought. Although I think Bush departed from reality when he thought he could run the country. I think he was drunk when he actually thought his economic stimulus package would actually do something for the people.
Ron San Diego
Well, he should know.
He's a Putz, a liar, and a criminal.
And the White House supplied the booze.
SInce when can business be called upon to regulate itself? Oversight should have come from the government just as the bail-out surely will.
Yeah, well, if Wall Street got drunk it was Bush and his cronies who were pouring the liquor. The GOP's hatred of regulation has been guiding financial policy in this country for the better part of the last 28 years. Deregulation was their battle cry and unfettered Free Markets their goal. And devil take the hindmost.
FDR knew better. The Greedy Old Plutocrats had to be reined in back in 1933 and they have to be reined in again. Republicans cannot be trusted when it comes to Wall Street or Main Street because they put profit above all else. They call it capital pool formation. I call it the rape of the economy at the expense of the national interest.
Pablo in Arlington Texas
Jack, a buffoon is a buffoon is a buffoon! The fact that first McCain's top economic advisor (Gramm) says the failing economy is in our heads and we're a "nation of whiners" and now his sidekick tells us the problem is that Wall Street is "drunk" makes you understand why the entire country is looking to Obama to rid us of these partisans.
Thanks be to the heavens that we only have a few more miserable months of these characters! Hurry January before they do something else that's totally stupid!
The Republicans gave them a ride to the liquor store. The GOP takes their orders from the rich and lets them do whatever they want to do. If the majority of Americans suffer as a result of these laissez faire policies, then they need to lift themselves up by the bootstraps, etc.
The Bush administration, and apparently the McCain campaign, consider country club conventional wisdom the last word on economic policy. Wall Street got drunk, working people have the hangover. cy gardner arlington, va
Bush is a blind man leading another blind man called McCain. They both know nothing about economy.
please Jack tell them, we are not winners and this economy problem is not in our head.
That he was the bartender!
The Republicans supplied the deregulation to go along with the booze. The end result is Bush's legacy is in the gutter.
Obvious, I think. The man who is all about less Government and less control just showed that less control doesn't work. The Republican mantra is less Government control. Just how that equates to the word Conservative, is a mystery to me. Just like, Less control, more greed, Religious Right, doesn't make sense either. You see the price of Sin is Death, in the Bible. But if you're a Republican, you can buy your way out!
It's all BS, it's all misinformation and making friends of the Party richer than anyone has a right to be. One things for sure, Being Republican, has nothing to do with helping, "We the People!"
The Bush administration was the bartender. Instead of watching out for its customers, the administration let them get their own drinks. The lack of regulation can be found there. The basic engine of capitalism is greed. Without regulation, all the corks are out of the bottles.
A drunk at the helm and his merry republican crew running amuck...8 years of an absurd American tragedgy.
Jack,
If Wall Street got drunk, who threw the binge party and supplied the booze? Doesn't there seem to be a habit trend here of never taking responsibility when things go wrong and always blaming someone else, or is it just my imagination? A responsible president once said, "The buck stops here." Will we ever get back to reality?
He's right. Wall Street had an expensive drunk that has caused a long hangover.
Wall Street did get drunk, and Bush should know. He brought the keg!
Despite the fact that he posseses a Harvard MBA, Bush knows next to nothing about economics. I have often wondered how he got through graduate economics – I can tell you that it is NOT a cakewalk! He has no clue what he is talking about, but neither McCain nor Obama appear to know anything about economics either.
From 1992 to 2001 we had a President who did indeed have knowledge of how the economy works, but I suppose we are now expected to pretend that he did not. Political correctness, you see...
Well, Pres Bush did not say this Jack however I am:
Let's jail a good many of the Wall Street crooks.
Jack C
Minneapolis, Mn
I give credit when it is due. Bush is right, but maybe a little too lenient. The conduct of Wall Street and many of our corporations borders on treason, and is certainly criminal. Patriotism, and duty to country is not just the responsibility of the average American. The nation comes first, period!
Surprisingly he hit the nail squarely on the head but this shows how slow he is in realizing what is going on in the economy and the nation. Now what is he going to do about it? He definitely does not have the expertize, nor the intellect to fix n it, nor does he have anyone in his administration who is capable of fixing it. So who is left – you guessed it Jack , it is Congress and they want to go on vacation.
Sorry, W', this one can't go to Wall Street. The drunkards are the idiots who spend more than they have, take out ridiculous mortgages, then expect the rest of us to bail them out.
Folksy - but how true. Wall Street spun itself up in a killer frenzy with debt derivatives, and the like for a coupel of years. Like a lush, they convinced themselves that they could still drive. Ooops.
By the way, they are repeat offenders - same thing happened in the 90's with the dot-com bust.
So who's the bartender here? Maybe the federal government - they were all too happy that everyone was having such a good time that they forgot to regulate the merrimaking (again)
He was hurt that he was not invited to the Kegger.
Jack, Congress controls the amount of regulation in place. They would appear to have left the keys to the bar with an alcoholic.
Wall street got drunk and we all with have the Hangover for years to come.
There are a lot more people drinking on Wall Street now.
Jack,
There is a difference between being drunk and being terrified.George needs a dictionary, I suppose to realize the difference.
Jack: Pretty intelligent answer for a cowboy. It is immoral for Wall Street to get drunk because the headache comes after the drinking, but if the headache came first, and it did, and the drunkenness afterwards, it would be moral to get drunk. As McCain would say, President Bush.........this Bud's for you.
Well, that's the pot calling the kettle black. I think Wall Street, the entire economy has been trying to get into some sort of balance, and it just can't be done with the policies of this administration. We need to get the three parts of Government on the same page. And we can do that if we vote responsibly this time. Its time for a change.
See? See what happens when you leave Wall Street unmonitored and unsupervised? They break into the liquor cabinet and get drunk. Unfortunately, when the GOP says they'll never give them the keys to the car or trust them to act responsibly on their own again Wall Street knows they're bluffing. Wall Street will say they're sorry and it will never happen again, but just you wait... I don't think Wall Street is sorry and the next time someone says, "Hey, My dad has some old junk bonds under his bed" or "I know a derivatives store where they don't check i.d." Wall Street will be up to their old tricks in no time. That's why they need grown up supervision and I don't think anyone in the GOP understands the concept of tough love. It's time for tough love. cy gardner arlington va
Jack, I would think that you would appreciate the fact that he said it in a language the majority of people can understand. Wall St. did something stupid without figuring the consequences. I'd call it pretty straightforward.
I am amazed that the president can see that Wall St. is drunk, but can't see that he and his administration has been drunk for over seven years. Maybe now that he can see the state of Wall Street he is sobering up enough to see the sorry state he has us all in. On the other hand if he don't want to sober up himself he should give us all a little bit of the stuff he has been snorting so we all can wild out like him, and just maybe lose some of this pain.
The recent comments made by McCain, Bush, Phil Gramm, and the rest of the GOP come as no true surprise to most Americans. The only surprise is the fact that they have been publicly aired. The sentiment behind the comments has defined GOP politics for the past 20+ years.
Jack it explains why the Republicans think we are in a mental recession. Hope they sober up soon, before the November hurricane sweeps them away. Drinks and all.
It's refreshing to see that the president has finally realized there is some problem in the economy other than "slow growth." Of course, as many people might intimiate, that if Wall Street is drunk, then President Bush was the bartender who refused to cut it off. I think we should have revoked his liquor license four years ago, but we didn't have the fortitude to do it, instead believing some right-wing nut jobs who financed the Swift Boat ads against John Kerry. We also had the chance to not even allow Bush to open the bar in the first place, but some confused Floridians and some dimpled, pregnant and dangling chads prevented Al Gore from winning that state in 2000. If there's anyone who needs to go to an AA meeting, it's the president. The first step of the 12-step program is admitting they can't control themselves, and the president is way out of control.
You can bet that if the economy was booming Bush would be way too busy taking credit for it, but since the economy is bad he puts the blame on someone else. Perhaps if we weren't too busy waging war with 3 countries, running up the national deficit, and spending the multi-billion dollar surplus that the previous administration left; we might be in better shape.
I've always wondered if a lot of voters were drunk when they re-elected this buffoon in 2004. But hey, this is what you get when you elect someone based on "who you want to have a beer with" instead of "I want the President to be the smartest guy in the room".
The only time Bush is the "smartest guy in the room" is when he's alone. And even then it's a close call.
Brian, Cincinnati
I just want to know where can I buy the toilet tissue with
Bush's face on it?
Wow, that statement speaks volumes ... none of it good.
Wow Jack, Now theres a Revelation ! Weeks after The Bear Stearns mess and the buy out by JP Morgan we've been Blessed with the Declaration that maybe something was a miss on Wall Street. Imagine That. And that was just the Tip of the Iceberg. The Hull of the Mother Ship is cracked and leaking, she may start to list.
Stupid is as stupid does and he is not just stupid, he's arrogant at the same time. What a joke for a "leader". It's not a wonder he will go down in history as the worst president ever.
Jack
Its a sad state of affairs, every time Bush blunders his way to the end of his term we all hope it doesnt get any worse, and when we turn around it does. We have 182 days to go, I have my fingers crossed he does not screw up any more.
I just want to know where can I buy the toilet tissue with Bush's face on it??
The fact the he was probably drunk when he started the war in Iraq.
Jack
No wonder the Europeans and the Middle East leaders like Obama. They finally get a chance to speak to an intelligent adult. What you left out of the tape was Bush joking that there is no housing crisis in Texas and laughing about it. He is a disgrace.
The same kind of ignorant rhetoric we have unfortunately come to expect from this person.
Is it January yet?
Jack, George Bush is pathetic. He is such a disgrace to this country. The man is an ignorant moron. Why can't he just ride off "into the sunset" and lose his way back to Washington. The country could survive until next January when hopefully a new administration arrives in Washington DC.
Linda in Indiana
I'd like to hear Bush repeat that sentence that the White House put out to explain his stupidity. I see at least 5 places where he would stumble over the words or get lost in the sentence completely. He was smart to stick with the drunk story. It's just another "flush" of the Bush Legacy toilet.
Well, that sure fits, as the Bush Adminstration has been having one giant kegger on the taxpayers dime!
The depth of the current President's intellect is underwhelming. No wonder we are in such financial straits in this country. For years, all we ever heard from the Bush administration was that we needed to get the government out of regulating businesses because the market alone would do the job. Well, Bush opened the bar and offered free drinks and now we all are suffering a hangover from his recklessness.
We elected a total incompetent not once, but twice. Shame on us! Wall Street did not get drunk, the President took stupid pills. Enough stupid pills to O.D., but we keep bringing him back. Thank God he can't run for a third term because he might pull off another election.
George W. may not be an expert on the economy, but he sure knows about getting drunk!
George Bush remains in his delusional world, he apparently sat in a Phill Gramm course at some point. All but a few eagerly await January 20th.
I realized the other day that Dubya and Obama have one thing in common. Two books. Obama wrote two and Dubya read two, one of those being "My Pet Goat." I guess that would account for Dubya's colorful analogy.
Yeah. Wall Street is drunk. Those 3 martini lunches paid for with the oil speculators new found money. By the way, for those who think speculation is not an issue & we should just drill, has ANYBODY NOTICED that since the debate on speculation began last week, oil prices are down $25 a barrel (-18%)?? If the "supply & demand is the real problem" believers on Wall Street think the drop in price is because the oil supply just suddenly increased (or demand decreased) by 18% in the last 7 days, I might even consider buying them another martini with theenew found gas money I'm going to have in MY pocket.
I think it is an superb exit statement for an administration that has no regard for the people of the very nation intrusted to them. One can truely say he is an idiot and no one can rebuttle. Thank you, so long, adios, see you never, and hopefully you end up in jail.
The stupidity of this man is absolutely astounding. However, if Wall Street got drunk, it was because K Street, the Whitehouse, and the Republican No Oversight Congress had an Open Bar.
Anyone will get drunk at an unending happy hour when they know that someone else is picking up the tab. This party was sponsored by your special interest owned government of the last 20 years.
This is why IQ tests should be administered to presidential candidates with a minimum score enforced.
When will George Bush start acting his age. He's not some college sophomore. A responsible adult would admit to his mistakes and try to correct them. All this guy ever does is mess up big time and then blame it on the Democrats or Congress. We have exactly 160 days more of the village idiot . . . hopefully the next resident of the White House has some common sense and will work with, not against, Congress so the middle class can get relief.
I wish we could drug test him
It will need a retired drunk like George to decipher the language of drunks. Only somebody like him will make light of such a subject as an ailing economy with the attendant hardship, but does he know any better? Well, the only way to categorize both the statemen and it's owner is "CLUELESS"
What a George W.Bush thing to say, it is so him. Just another smudge on his almost completely tarnished legacy. It is not surprising and not shocking, when that man speaks, you have to wonder if he was not sharing some of the booze with Wall Streeters!!!
Interesting comment coming from a former "drunk". If there is one thing GWB can do, it's take a complicated issue and break it down into terms that are meaningless.
I think he is dead on Jack!
It's a shame that the bartender, AKA George W. Bush didn't cut them off before they fell off the barstool!
Last week, he blamed the Dems for not passing his energy bill and said they were the reason for high gas prices? Wasn't he in office for almost 8 years? This man is more senile than Reagan. He has no accountability and believes he is above God. This man is truly clueless!!!
Wildwood Crest, NJ
If Wall Street was drunk with the economy, then he must have been wasted and passed out on the front lawn of the Whitehouse when it comes to Iraq and foreign affairs.
This is typical. Most politicians lack an understanding of the economy to the point where they actually believe the pithy plattitudes they spout. If it were so simple as Wall Street being drunk, then the purchasing power of working class americans going down because of inflation is caused by what? Some guy at the Fed fell asleep and printed too many US Dollars?
Central Economic Planning is a hallmark of Communist governing. These jokers are killing our currency by lending at ridiculously low rates for so long that they encouraged banks to lend irresponsibly, then printing money to prop up institutions that lend recklessly.
If he's really trying to blame Wall Street, then why are we propping up Bear Stearns, Fannie Mae, and Freddy Mac to the tune of our entire financial future?
But none of this will be discussed front and center because politicians love sound bites.
If Bush had said the "speculators" had gotten DRUNK on oil.....causing the American motorists to have a gigantic hangover, it would have made sense!
This is what happened when the fox was not minding the hen house. Every thing is out of control under his watch. Cost of living has sky rocketed.
In my opinion, president Bush is running out of excuses for our struggling economy. He's now blaming Wall Street, while McCain is blaming Obama. It's almost like hearing a joke, only this one wasn't funny at all.
I think we have an idiot for a president. I am not quite sure if he has sobered up. I think he fell off the wagon and landed on his head. When a president uses a metaphor like to described a situation where people are literally setting on the curve with their furniture, has to have something wrong with him.
Just more nonsense from King Dufus.
Gosh Jack, are all Republicans out of touch – Bush, McCain, Gramm, the list goes on and on or is it that they don't really care about the American people and/or is it that they don't really care about the have nots in America.
Gee with all the investments we lost during the drunken stupor, does that mean we have to leave a TIP?
Jack,
Oh my goodness another ignorant statement from our president! The man can not put two intelligent words together! AND ..... if you pay attention McCain is not much better. I still cringe at how uncomfortable and stupid McCain looked when asked a simple question about why insurance companies pay for Viagra but not birth control pills! McCain was totally stumped! Inarticulate!
I am praying that we, Americans, will choose intelligence over rhetoric; brilliance over "experience".......... if Bush & McCain are what people think experience looks like........... we are in deep trouble!
Jack, Why should any thinking American be surprised by the Cowboy explanatios this undeserving President makes. All he has ever been concerned about is vendicating his fathers failed attempt to capture Saddam and what lies he would tell the American people to justify it.
I listen to Lou Dobbs wage campaigns against many issues, but has yet to wage one to impeach the most criminal of Presidents and Vice Presidents our country has ever seen.
Why should we be surprised at another unintelligent comment this crook makes.
Jack,
It means that he's speaking to the people who voted for him in the last two elections...the same people who would vote for him again if it were possible (God help us). This is the only language they understand.
Flemington, NJ
Wall Street got drunk because Dubaya announced: "Drinks on the house " It's just a shame he is using our money.
The depth of the intellect at the very top of our nation’s government is staggering, isn’t it? Apparently the depth of yours should be in question as well Jack. He was right so read again all the way through without your bias BS!! Also comments like this "It’s that kind of shallowness that has created an appetite in the American public and overseas for someone like Barack Obama." This goes to show you that McCain is right about the media being in love with Obama and your cameo in the new commercial comes well deserved. Can the President say anything these days without you crazy media people going crazy? Must be too good to be true right Jack???
You mean the markets need active regulation? What a concept!
Brilliant. GW has given us the new buzz phraze for his legacy. Wall street got drunk. They overindulged, went too far, left the car in a ditch and stumbled home. So I guess we could say that the contractors in Iraq got drunk.That Bush, Cheney, Rumsfeld, and Rice got drunk before they invaded. And the oil, energy and insurance companies are still drinking.
Talk about the pot calling the kettle black. President George DWI Bush knows a thing or two about being drunk. He spent his 20s, 30s and 40s three sheets to the wind. Hey Jack, do you remember back in 1966 when Georgie was arrested for disorderly conduct after he and some friends had "a few beers" and stole a Christmas wreath from a hotel. Oh yeah, and what about the time in 1972 when, after an all night bender, Dubya lost control of his car and ran over a garbage can, but continued home with the can wedged noisily under the car. And, oh yeah, let's not forget the time back in 1976 when our Commander in Chief was arrested for driving under the influence of alcohol near his family's summer home in Kennebunkport, Maine. Presidents that live in martini glasses shouldn't throw olives.
Jack,
Maybe is is one of the AA's twelve steps. I do not know. I think that it clearly shows the problems that I have with the republicans and Especially with John McCain. They are completely out of touch with the American People and this stupid analogy proves it.
Duh...Come on what would anyone expect. His grand intelligence has been obvious from day one.
I guess when you are up to your neck in oil as Bush and Cheney are than everyone would look as they were drunk. It is easy to say when you do not have to buy your food, medicine and other needs or you have all the money you need.
Bush never ceases to amaze me he took a country with the most powerful, successful military in world history,the best economy, and a country that was love and envied throughout the world and he ran it into the ground. A total idiot with all that to work with should have been successful.
Bush's friends,associates and campaign contributors all got drunk. The rest of us are paying for the hangover.
Jack,
We have gone from a "Nation of Whiners" to "Wall Street Drunks".
Well, take two of these, (furnished by Cindy McCain), and call me in the morning.
Crying in my Beer in PA
Jack, in my opinion this is probably the most intellectual statement I've heard from the White House in quite a few years.
There is enough irresponsibility to go around. The media should have vetted all the baloney Bush threw at it. The Democrats should have done due diligence and impeached him. When Kucinich, Obama, Bird and others questioned the rush to war with Iraq, the American people should have acted like citizens in a democracy and asked Bush for evidence of his claims.
Washington University Law School's Professor Jonathan Turley says Bush has committed more than 30 felonies. We have all aided and abetted, Jack. We're not the citizenry that the founding fathers envisioned.
Jack,
It tells us he's reliving the painful event in his life of his party days while at Yale University, of blowing his parent's money, vicariously through Wall Street's financial tribulation because of his economic policies...
C.I., New York
It would most definitely take one to know one.
jack,
i'm just glad wall street hasn't discovered coke yet!
My 5 year old could come up with a better excuse than that!
I think Bush should just sleep it off until roughly the end of the year.
Jack, only an uneducated low-life can associate the result of alcohol consumption with the economy, a painful reality for those of us who aren’t spoon-fed our whole lives. What an embarrassment.
Funny that Bush is accusing Wall Street about getting drunk.
After 9-11, Bush got drunk with the new-found executive power fed by national fear. His administration also started to "pull" from that same bottle, got a little tipsy, ignored the details of their job to protect its citizens until most of the Bush administration didn't know or care what they were supposed to be doing.
Little or no oversight in banking, home lending, oil speculation, pension fund protection, exporting jobs, illeagal immigration and a long list of other issues are the cause of our current faltering economy.....not Wall Street alone.
But as Bush is getting nearer to the bottom of his 'bottle', he has to blame someone besides HIS administration and its failures.
Don't we all wish it was that simple. We were drunk when we elected that clown.
Nothing Bush says, or does, surprises me any more. Thanks alot Pelosi for not impeaching this idiot when you had the chance.
Who would know better than him what a hang over feels like.
Ruth from Georgia.
president bush supplied alcohol to minors?this is disgraceful!they shouldnt be allowed to gamble ,either.
Bush is going to play the blame game till he leaves office, he won't admit that we are in a recession, he won't admit that his economic policies failed and he will not take responsibility for his actions. Our employee Bush is an alcoholic, won't someone put him in rehab.
Wall Street got drunk. And Bush acts like he is drunk. It takes one to know one.
How about "crudeness" and "ignorance" to describe Bush? During the past 7 years I have often wondered if Bush has really stopped drinking.
Well, he gave an analogy that mirrors his own life experiences. Wall Street got wasted – no it was our money that got wasted. Wall Street is symptomatic – what ails it can't be fixed by a punch drunk President.
My Pappy always told me that old drunks always know who the other drunks are. I don't know what he meant by that , but Bush's comment seems to be from knowing. Sadly that he should make a comment like that especially for someone who was at one time an old drunk.
jack , if wall street is drunk, what is george and his administration on. maybe bush could use a good stiff one.
Jack, it means that they saw an opportunity to make a lot of money in a short time on risky investments that could have been curtailed if reasonable market regulations were in place to prevent irresponsible behavior initiated by the Wall Street speculators. These market players were basically free to play with investors money in a reckless way. The government has now saw fit to bail out some large mortgage lending institutes in order to prevent a repeat of the '29 market crash when bailouts didn't rescue the economy.
maybe he gave them so called bush beer that really will give them a bad hangover. if another republican takes over where all going to have major bad hangovers.....
Ummm is anyone surprised? We all know President (it kills me to call him that) Bush is mentally deficient.
And... welcome back, Jack! I missed the days where you spent your energies criticizing the Bush administration instead of pushing Obama's agenda.
It's not like I'm a fan of Junior or anything, but could be an attempt at metaphorical language? Was Wall Street "drunk" on the easy money real estate offered? I'd go along with that. However, I don't think we can let those who oversaw the whole thing- the FED & Greenspan, or Republican Congress off the hook either.
So the Republican plan is to send everyone on Wall Street to an AA meeting...brilliant.
Jack,
I had to leave "Happy Hour" to respond to this one, but it seems to me that President Bush is talking gibberish again. For the life of me I have no idea what he was trying to say. Could we get Senator Lieberman in here to explain this one?
i cant wait to hear his REAL excuse for the war in iraq.was he smoking marijuana or crack?
he's drunk on oil profits.
Of all the ignorant things I have heard Bush 43 say over the course of his Presidency, this is by far the stupidest. This is another example of his lack of interest in the economy and the very real problems that Americans are facing every day. Thank God for term limits!
Pretty accurate description, if Obama would have said that, most of you people would have thought we'd been privy to some keen insight.
Jack, I am from Texas and I get drunk everyday because I voted for this lunatic in 2004, Bush is an embarrisment to our nation he will go down in history as the worst president ever. I would vote a 5th grader in office over another republican at this point..
Incompetence has now become the GOP's signature brand. People will obviously overlook every disaster you created if they feel it was simply a result of your stupidity.
If you doubt this just remember they re-elected Bush in 2004 and are on the verge of electing John McCain in 2008 and he is America's best chance at making George W. Bush look like a genius.
Together Bush/McCain better known as the Hope Brothers........little hope and no hope!
Oh Great! So now everyone is blaming all of the problems caused by the crooks on Wall Street on Bush as well.....Gee, I got a flat tire last week, maybe I will blame that on him too.....I guess he is an easy target....instead of going after the Congress and the Senate who are the ones that really have the power in this country and I will say should be held accountable for the state of this country, I see the idiots are still blaming every thing on one guy....must be nice to be ignorant of how government really works......
The depth of this intellect is what I saw two elections ago. Unfortunately, there are people in our country that are not afraid to have a 3rd Bush term and wants to elect McCain. It makes me sick to think that this might happen.
With the end of Bush's second term coming to an end every day he becomes more and more careless. He is no doctor, as I'm sure you can tell by his rhetoric, and rather than just offering the country his diagnosis he should be doing something to fix what needs to be fixed. Wall street didn't get drunk, the presidents faltering economic policies are old and wrinkled; it's time for a face lift. I just hope that Bush's failures don't get any worse – our next president already has quite a job ahead of them.
And the Wall Street cronies and Bush are friends. McCain would be more of the same and at the same stag party I prefer to be a whiner in a mental recession than a drunk with an old co-pilot with turrets syndrome.
Wallstreet got drunk – Finally GB is talking about a subject he really knows about.
It won't be long Americans, just hold on. The clock is ticking for this moron and his cronnies.
I also think the Democrats are crazy for not prosecuting Rove and the others. Bush is getting away with murder, literally.
With the end of Bush’s second term coming to an end every day he becomes more and more careless. He is no doctor, as I’m sure you can tell by his rhetoric, and rather than just offering the country his diagnosis he should be doing something to fix what needs to be fixed. Wall street didn’t get drunk, the presidents faltering economic policies are old and wrinkled; it’s time for a face lift. I just hope that Bush’s failures don’t get any worse – our next president already has quite a job ahead of them.
Jack. I respect the Republicans. They have the guts to do what they decide to do, and the Democrats don’t have the guts to stop them and put all those crooks from the top in jail. I believed if it was the other way around all the Democrats would end jail. Smart job Bush share the US treasury with you and your crooks friend. There is no more money feel free to leave the lord is waiting for you.
Octave Hyacinth. Sr Long Beach. CA 07-23-08
Wow Jack... that is such a relief to hear. I mean, bad decisions are not uncommon when you are so plastered that you have difficulty forming simple senteces.I mean this is America... it is perfectly acceptable to do dumb things when your'e drunk.Right? And to think that I thought wall street was being run by crooks or idiots–shame on me.
So, what's your excuse Mr. President?
Bush will turn into an alcoholic again once he is out of office.
I garantee it!
for someone who has been drunk with power for eight years he`s finally found something he`s an expert at, capitalist totalitarianism now comes in a bottle marked alchoholic volume, lets all get drunk..
I want public officials that know that the patron is an alcoholic before hand ... not tell me they were drunk after the fact.
Bush was the head waiter at that party. While we were sleeping it seems like when you now call the IRS the phone is answered in India. I am not a bigot by any means, but WTF? My tax records are now in another country? Hmm makes ya wonder if they are going to outsource it anyway, maybe they should send the calls to Mexico.. and we wouldnt have to build a fence because they would have jobs there. Unlike me who was laid off 3 months ago... THANK YOU GEORGE !!
Today McCain said Bush was responsible for the drop in the cost of a barrel of oil. Now another insightful remark from Bush. It is clear that the GOP is full of drunken baffoons. Well I am sure overseas countries are happy to have a conversation with someone they can have an intelligent conversation with instead of Pinky and the Brain.
Jack,
"Mission Accomplished!"
Wall Street didn't get drunk but if I have to put up with listening to Bush's ramblings any longer I just might get smashed.
Of course! That's it! That explains it all, Dubya! Thanks!
The fact that we're spending billions of dollars in Iraq each month has nothing to do with it, right? All that money going to fund an illegal war has meant cut-backs to many government-funded organizations and programs and it has had a huge impact on everyday Americans. I know from experience. My wife's government-funded employer saw it's funding slashed. Of course, since crap always runs downhill, it was my wife and other non-managerial employees that saw their hours cut to compensate. Once again, the middle class gets screwed and it has nothing to do with Wall Street "getting drunk". It has to do with the very irresponsible policies of our little tin dictator in the Oval Office.
Jack:
He also stated that there is a "housing issue although not in Houston or Dallas since Laura is in Dallas looking at houses." Joking with a bunch of wealthy elitists is extremely disgraceful and disrespectful to those impacted, since foreclosure rates in Houston and Dallas are at all time highs.
Well Jack, there are alot of broadminded people in this country but most of them, like the president and those on Wall Street, have very little depth. Perhaps in the vernacular of the president he simply meant that Wall Street went on drunken binge of greed. Like R.W. Emerson said: The traveler says, "Anywhere but here." The sick say, "Anything but this." And the rich say, "Enough is never enough."
The government and it's regulators made it too easy for Wall Street and the financiers to do what they have done. Like children they simply helped themselves until they got a tummy ache. In many ways the people in main stream America have done the same thing. It's not as if we are without fault.
Geri – Mead, Ok
Takes one to know one. And there should be consequences for those responsible for over serving a visibly intoxicated person. (VIP)Shame on those who voted for him.
It's a riddle. Don't think too hard about it or you'll never find the answer.
Gigi in Alabama...thanks for counting the days! Now, if we can prevent Bush and his buddies from starting another war, insulting another head of state, or sending more of our own oil to Japan for the next 160 days, we have a chance at a decent start to the new year!
Ah the old days this is what Bush was thinking about remember he has said he sure likes the taste of booze. He must get some of his Jokes from McCain.
Paul
Round Rock, Texas
[insert ironic comment about President Bush being "drunk" on foreign/domestic policy here]
Jack, Well...what would one expect from a guy who sobered-up when he reached forty? Should Bush be held to a higher standard than other recovering alcoholics? No... after all... it's very difficult to see when your brains out of focas.
Jerry N/Tulsa
If he meant Wall Street "got drunk" on its own greed, then it makes sense. Just like the housing market, where everyone thought it would go up, up, up and never come down. People got drunk on success and failed to consider the inevitable hangover. It's a rather apt metaphor, especially coming from an idiot.
Finally.....something Mr. Bush is an expert at analyzing.
Par for the course, Jack.
Boise, ID
I'm actually shocked Bush admitted the economy has problems at all, are these the harshest words he's used so far? I assume it would make sense to then say our government is currently high on drugs and booze, violently trashing the hotel room.
It just goes to show you that no matter what he tries to portray on the exterior, he is still just a less than average educated rich boy that gets what he wants, and usually because of his fathers good name. He has to ride the coat-tails of others because he is unable to do it himself. He was eleceted because of his father, and everything else he has, he owes to someone else. The only thing he can claim for himself is the dead sons, daughters, husbands, and wives, and his one shining moment that reeked of politics and photo ops in NYC in 2001. What a loser. What a disgrace. What a mess he has left.
well he should have been the Bartender and told wall street enough is enough but Unfortunatly we have a President that would rather go to war then help his fellow Americans
Get the hook? Time for this act to end!
How many drinks did he force down their throats? Nice way to try to get out of the fact that Bush runined our economy, and McCain will tag along for the ride!
Hello Jack,
The president had a huge opportunity to explain to us the details of what happened and instead he makes some inappropriate comparison. It just hit me that this country has been completely without someone to look up to in a president for the last 8 years… that we have been without a leader and our kids without a hero. Maybe I’m asking for too much of a president but it used to be that way…I cant wait till January!
Abby
New York, NY
Bush's comment is like the pot calling the kettle black – he's the one that threw the open bar party for all his friends the moment his feet were behind the Oval Office desk -and at the country's expense!- Now we have the frigging hang-over and there's no telling how long it will last.
Jack in this country of laws, when a person is gets DRUNK and does harm to another person they are prosecuted. That is what should be done with these loan officers who under the false pretense that they were helping the public. The persons above the loan officers are even more guilty. The Clarks
What's next?
"Baghdad got drunk"
"Tehran got drunk"
"Haliburton got drunk"
"Katrina got drunk"
How many days left?
Jack, as I read the postings, I noticed one thing, not many people talked about the issue you raised. Bush explaining economics as being drunk makes no sense. What does it mean to have a drunk economy? Did it run wild and noone caught it? Did it start doing crazy up and down flips and now it has a head-ache? His analogy does not make any sense. I guess he was trying to sound funny about not being able to explain it. You did not mention it, but in his comment he included the economy went drunk with "the crazy instruments".
As an American, I feel he does not have any idea on how to explain what happened to the economy and he is still as lost regarding certain issues as he was when he first started running for governor of Texas. I feel as a president he should have advisors who specialize in certain issues. However, after eight years he should have learned how to speak with regards to the economy. What else does he not know how to explain? Did he not take speech communication in college? He obviously does not know how to speak clearly with a purpose in mind. That would explain the words he tends to make-up as he speaks.
HA,HA,ha ha, Jack I can't stop laughing!!
George would be great at a party, just cracking the jokes one after another. But leadership...?
I'm glad he is your 'president' and not ours...
He should certainly know the symptoms. I think his former experience with alcohol killed some very important brain cells. That is the only explanation I can come up with for his ridiculous behavior and his inability to articulate anything.
My granddaughter says silly things all the time and I just smile, nod my head and say ah-hah. She is 5 years old. What's Bush's excuse?
You would think with all of the traveling as President, bush would have learned how to articulate by now, but he sounds as stupid as the day he stole the presidency.
Ok, so if I get drunk do you think President Bush will pick up my tab?
Middle Class American
Gloucester, Virginia
I think America was drunk when they voted this man in office...twice. As for Democrats, they must have been smoking something to lose an election to this man twice.
Sure they may be drunk but you must have been smoking something~
maybe they will sober up after 2013, after McCain leaves office
... and Mc Cain screams – privatize SS. Good Lord .
Intellectual depth and the Bush administration is the very definition of an oxymoron. I guess it's no coincidence that moron is part of that word. It's certainly a good description of Mr. numero uno himself.
That beats admitting that the "buck stops here". He continues to exhibit his lack of knowledge, inability to deal with the devestating issues facing the U.S. today, talent at passing the blame on to someone or something other than himself and total oblivion to the state of the union, in general. He was smart enough (he thought) to turn off the cameras, but I guess that just shows his arrogance, which has never been in short supply.
Yeah, but not half as drunk as I got after I watched my 401K go straight into the toilet.
I think this question is a perfect example of liberal bias in the media. CNN needs to give their producers a course in reporting not manufacturing.
Well clearly Jack, Bush is telling secrets from the weekly AA meeting. What happens at those meetings are supposed to stay at those meetings. Now he adds tattle tale to his list of attributes.
I think he got drunk ...for the past 7 years.
And the leader of the country, he should have called for the cab.
I don't like the guy, but perhaps he's right. Can't slam him for saying that.
Wall Street has gotten drunk - with a free liquor known as "Absolut control over the ability to manipulate oil futures without consequences." And who allowed them to empty the bar? People like this President and Phil Gramm.
I can't speak for wall street but those that voted for this man not once but twice had to be drunk and on crack.
Jack,
Actually I think the American public was drunk when George got elected, and now they are sobering up to the idea that maybe the grown-ups in the other party should have a shot.
Mr. Bush should read the Bible. Americans should remember, Mr. Bush did not win the election in 2000. He was placed in office by the United States Supreme Court, and the Americans have been paying the price every since than. Every home owner that have lost a home should be upset by his comments.
Hey Jack,
Someone needs to sit Dubya down and explain to him that is better to be thought of as a fool than open your mouth and remove all doubt.
No wonder the rest of the world dislikes us.
Just because many may not 'get' his analogy doesn't mean he's an idiot. Perhaps it's over your heads. Many very insightful comments are simplistic in nature & dismissed before being fully considered.
Jack, if this presidents "shallowness" has created an appetite for Barack Obama then why are the polls indicating that he is in a dead heat with McCain?
George W. Bush is the most un-presidential president of all time.
hahaha! His wording shows how intelligent he is...
How does it feel to pick up the tab for the party that wall street had and you were not invited to.
How does it feel to pay for higher prices at the pump due to greedy speculators
How does it feel to see the housing market fall because of greedy mortgage bankers
How does it feel to have George Bush in charge of all of this
They had the party, I get to have the hangover.
I, for one, will be sad when the President leaves office...Late Night shows won't even have half as much material as they do now.
I thought it was Bush that has the drunk driving conviction. But that’s how the incompetent deal with their failures, they blame everyone else and try to make those around them look bad.
Just more evidence of the true intelligence of George Bush that shows every time he is given the change to speak his mind. Although he has proven he can't even give a decent speech when it is already written for him.
One has to wonder if this was how it was explained to him...in order for him to better understand.
Nothing that comes from his mouth should surprise any of us anymore. The amazing thing is that some people (not I, thankfully) actually voted for this moron not once but TWICE! The most frightening thing now is to know there are actually those who are probably going to vote for his protege. The thought of 4 more years of the same is sickening! Barack Obama is our only hope.
Pat, SC
Jamal-
When you find that Bush toilet paper let me know where because I want to buy the large economy pack.
Geesh how did this idiot get elected?
Please America, do the correct thing this time and vote for the "smart" guy. And let's face it we know who that is. It's the one who doesn't think Iraq borders Afghanistan.
Obama 08!!!
Yes, Wall Street got drunk. Guess who the bartender was?
jack,no wonder wall street got drunk,the actions of this administration would drive anyone to drink
How true, the EXPERT in drinks spoketh!!
Your questions write up connecting the shallowness of the Bush remarks to the recent success of Obama is equally shallow and likely just as irrelevant. As far as his “got drunk” remarks, it was typical Dubya. If for nothing else at least he has learned the classic Rove maneuver when Bush is about to talk, turn off the cameras.
Heaven forbid someone use a metaphor, and a rather fitting one at that.
Jack,
I think Bush would be a better stand-up comedian than President of the United States. I don't think the working class families losing their jobs and homes see the humor in his remarks.
Can't Bush just quit? I won't hold it against him.
Martin
Atlanta
That shallowness he showed 8 years ago is still there. This man never change. The real question I can not still answer is that why did American people elect this same person twice. It is a shame on America. He made people everywhere laughing at us.
Nuwan from Houston, TX
Drunk my eye. They know what they are doing. Why did Bush call a privite meeting with congress to discuss imposing Marshall Law if things get to bad with the banking crisis? Marshall Law will stop the election and Bush will still be President. This crisis will be used to the republican advantage,as usual
do you have to take offence at anything that comes out of the president? you have delineated the context from which the president was speaking only to ask a question that serves your agenda. like i keep saying, i am looking forward to the day you will offer yourself up to run for any office...whiner!!!
Hi Jack
I think he just craves attention.
Mike CA
Actually, that is a great analogy to what happened, phrased simply so people with half a brain like those who just want to bash Bush because liberals tell them to can understand. He is referring to speculation, for those of you who don't get it.
It takes One to know Another one
Excuses, excuses, excuses. At least he didn't blame 9/11 or, taking a tactic from the McCain campaign, blame Senator Obama. By the way, in this analogy, wasn't the bottle Iraq? And, if Wall St. got drunk, what did Enron do...rob the liquor store? This is all a big fat excuse for hands-off, laissez-faire government.
It looks like Bush started drinking again, I think what happened is when he was drunk everything looked drunk to him. Time for rehab for our president.
That is such a perfect description coming from a man that has run this country in a total blackout for 7 years.
As for us having a hangover, I just hope we hit rehab and not go for the hair of the dog therapy!
Bush has always reduced the most serious of predicaments into the simplest of terms.
My guess: He doesn't know what is going on, and that's the way his advisors present to him because they know his IQ is a negative integer. Then he just repeats it.
I'm counting the days until The White House contains brain cells. He is such an oaf.
As with any Bush's assertions , it captures the surface of things
but conceals the deeply-nested core.
It also fits characteristically into Bush's mindset.
He is right! Wall Street at least got greedy and blinded by the love of money. These sub prime mortgages were all originated for one reason and one reason only that was greed (and share price of course!)
Who is/was watching the hen house? Obviously, no foxes! Such is the legacy of tricklet down economics and deregulartion set in motion by the Republican Godfather, R Reagan! Funny how you get what you ask for in life. The problem is those who created this mess have enough money to weather the perfect financial storm and the least of us are suffering. It will take decades to recover. thank you.
Enron debacle...I'll drink to that
9/11 attacks.....I'll drink to that
Mission accomplished....I'll drink to that
Iraq weapons of mass destruction (did not find them)....I'll drink to that
Hurricane Katrina...I'll drink to that
US economy in a slow down....I'll drink to that
Hey Mr. President we are low on alcohol
Stimulus checks on the way...I'll drink to that
Jack love your show.
It's unfortunate that we are subjected to such stupidity from a "President".
As far as Wall Street being drunk, it is quite obvious that it takes one to know one.
What is wrong about speaking what most people are thinking? Wall Street went to extremes (got drunk) and did some foolish things that are now causing all of of us a big headache (hangover).
Can't you Bush haters find something more substantial; like his Iraq war is bankrupting our country?
Everyone is mocking Bush, yet they don't even take a second to dissect the statement; they immediately jump to an unrelated insult. I'm no Bush fan, but we owe him a bit of respect because he is still in a position of authority. Now, if you think a little bit, it's easy to understand him. All he's saying is that Wall Street got used to a booming economy and people were inundating it with speculation (alcohol in this analogy). To further the analogy, the market had a little too much Jagermeister and is now upchucking all over us (the date). It's as much the fault of investors as anyone else. The government's job isn't to limit what we as citizens or private businesses are allowed to do. We're supposed to regulate ourselves.
Dear Jack, I don't know about the Wall Street being drunk but apparently the American people are. First we re-elect President Bush after his disasterous first term. And now Bush's reincarnation Senator McCain, who is about as exciting as watching paint dry,is tied with Senator Obama in the polls. Wake up America. How much can one country suffer?
The President, as always, speaks eloquently. He is a tribute to both Yale and Harvard.
It's all a big joke if you've never spent a day of your life not safely & confidently protected from such messy day-to-day things as economic downturns. Too many have for too long seen that as 'his charm'.
Like a sack of rotten onions brings a tear to your eye, so does this Administration.
It doesn't surprise me a bit of how the sentence came out of his mouth, I don't think McCain could have coined it any better. Wonder how Obama would explain it?
Regarding Bush's comment that Wall Street got drunk.... Takes one to know one! What's he drinking?
If anyone knows drunk, it would be him. What will all the comedians in the world do without our dear beloved president? I on the other hand am so excited about his departure that I could just pee. They could get the devil himself to replace GWB and it would still be an improvement.
I can relate....often I find out that I have no money when I've sobered up from a good drunk!!!
the question is was bush drunk, that might be how we can explain, the two wars, this housing crisis, gas soaring out of control. the list goes on and on, might john mccain was with him, he seen to agree with him on most everything, picture that.
How would he know if Wall Street was drunk? Guess it takes on to know one.
Wolf-Camacho
Houston, TX