Posted by Cat Lady at 7/23/08 4:05 p.m.

What'll happen if WS gets arrested for drunk driving?

Posted by unregistered user at 7/23/08 4:15 p.m.

Wall Street got drunk...

And who's their favorite bartender?

Posted by 8bitjoystick at 7/23/08 4:21 p.m.

ITMFA

This is exactly why your vote matters.

Posted by Chris D at 7/23/08 8:06 p.m.

I don't carefully track President Bush's comments, and the intoxication analogy seems a little glib. But he's right about the role "fancy financial instruments" in the current economic downturn. But it's not just Wall Street - they sold these packaged mortgage debts around the world, and in big numbers.

So now you and I are bailing out Bear Stearns, Fannie Mae, and Freddie Mac with government money. I best I heard the situation described on a TV show: "It's like a bunch of rich frat boys playing poker, except it's all our money."

We covered their losses with the Saving & Loan bailout in the '80's, Long Term Capital in the '90's, and now the new bailout champ - the mortgage and secondary debt market crisis of today.

Maybe it is time to debate the role and value of passing on risk taken by a few mega-financial institutions to governments and their taxpayers. It doesn't appear this will happen during President Bush's tenure.

Posted by LenC at 7/23/08 9:08 p.m.

OMFG he's incoherent.