HERE IS WHAT YOUR PRESIDENT BUSH WAS LIKE, Remember once a pickle never more a Cucumber
By James Quinn, Wall Street Correspondent
4:45PM BST 23 Jul 2008
US President George W. Bush has claimed that Wall Street "got drunk" in the run-up to the credit crisis and now has "got a hangover."
The unguarded comments, made during a private fundraiser in Houston, show the US leader's perhaps flippant approach to the crisis which has wiped hundreds of billions of dollars off the value of banks and other companies worldwide, and forced more than 1m Americans to lose their homes.
The comments appeared on viral video site YouTube courtesy of local news station KTRK in the Texan city.
In the video, he jokes: ""There is no question about it. Wall Street got drunk. That's one reason I asked you to turn off your TV cameras."
"The question is, How long will it (take to) sober up and not try to do all these fancy financial instruments?"
Traditional media were banned from the gathering, to support a local Republican politician in the President's home state, but his words were captured on a handheld personal camera.
Mr Bush, who was in jocular mood, then went on to joke about the housing crisis, saying it didn't seem to exist in Houston - based on evidence from wife Laura, who is trying to by a house there for the couple when his second presidential term ends next January.
White House spokesman Tony Fratto said the President was merely describing the stock market in the way many observers have.