Tuesday, October 07, 2008

Moments in presidential reassurance

George Bush, during a Q&A in Chantilly Va. today (near Dulles Airport -- we should be thankful he didn't fly to the event) --

My pals say, and I understand this, I fully believe this, that, how can you possibly stand there and let Wall Street do what they did? Listen, people are angry about the fact that people look like they're dragging out money when there's failure. I understand that. I don't mind rewarding success. It's when people make money off failure. And I think there's going to be a -- there needs to be a reassessment of these packages. There needs to be a reassessment of how interconnected people became; how they made promises that they were not in a capital position to fix.

It's not clear whether this was the standard of analysis when he phoned Gordon Brown (White House picture above) to discuss the financial crisis. He does seem to have had one of his VERY IMPORTANT folders in front of him during the call so perhaps he was better briefed for that.

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