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George W Bush, who has famously battled alcohol problems in the past, has come up with a novel explanation for the credit crunch: Wall Street got drunk and suffered a hangover. Bush didn't know his comments would reach the outside world "There's no question about it. Wall Street got drunk," the US President said at a private event in Houston on Friday. "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?" Mr Bush's comments - which he intended to make away from any cameras - were recorded on a mobile phone and posted on YouTube. He was in Houston to raise money for Republican congressional candidate Pete Olson, who is challenging incumbent Democrat Nick Lampson. "He has said before that Wall Street was dealing with very complex financial... [read full story]
