by David Samuels
The New Yorker
http://www.newyorker.com/reporting/2008/07/28/080728fa_fact_samuels?currentPage=all Read more!
Friday, July 25, 2008
Wednesday, July 23, 2008
From Jack Cafferty's CNN blog:
"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." Read more!