Wonder why your house is in foreclosure and your bank is in trouble? "Wall Street got drunk!"

Last Friday, after asking reporters to turn off their cameras, President Bush offered his take on the country's current financial crisis. Amid appreciative giggles from his fellow diners, Bush announced that "Wall Street got drunk [...] and now it's got a hangover." He then went on to ask "How long will it [take to] sober up and not try to do all these fancy financial instruments?" Finally, he noted that "We got a housing issue...not in Houston, and evidently not in Dallas, because Laura's over there trying to buy a house."

Here's the video (and some commentary from The Young Turks):

In addition to the President's apparent callousness regarding the country's subprime housing disaster, his seeming ignorance of the long-term implications of his policies is absolutely stunning. No wonder he wanted the cameras off!

Bruce Watson is a freelance writer, blogger, and all-around cheapskate. He's done some silly, stupid things while under the influence, but he's never tanked the economy!
Read Full Story

Can't get enough personal finance tips?

Sign up for Finance Report by AOL and get everything from consumer news to money tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.