US President George W Bush addressing the crisis in the world’s financial sector:
“Wall Street got drunk. 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?”
Later, an interpretation by the White House press secretary:
“He said that Wall Street was dealing with very complex financial instruments and that the markets didn’t fully understand the risks that those instruments posed to the system.”
I’d never have guessed.
Filed under: Pass the bottle