The setup is George Bush, as usual, being an insensitive fool and making stupid jokes about tens of thousands of destroyed lives:
There’s no question about it. Wall Street got drunk–that’s one of the reasons I asked you to turn off the TV cameras. It got drunk, and now it’s got a hangover. The question is how long will it sober up and not try to do all these fancy financial instruments. And then we got a housing issue, not in Houston, and evidently not in Dallas, because Laura’s over there trying to buy a house.
The White House says Bush’s comments were in line with previous statements he’s made about the economy.