Wednesday, December 03, 2008

History is in at the White House (and Camp David)

You know, I'm the President during this period of time, but I think when the history of this period is written, people will realize a lot of the decisions that were made on Wall Street took place over a decade or so, before I arrived in President, during I arrived in President.

I'm a little upset that we didn't get the reforms to Fannie and Freddie - on Fannie and Freddie, because I think it would have helped a lot. And when people review the history of this administration, people will say that this administration tried hard to get a regulator. And there will be a lot of analysis of why that didn't happen. I suspect people will find a lot of it didn't happen for pure political reasons.

ABC gets Bush. A little of Charlie Gibson's interview.

GIBSON: Was not saving Lehman a mistake?

BUSH: We'll let the historians look back on that. At the time, the recommendation was not to, obviously. And some are second-guessing that. And in a situation like this, Charlie, where the administration is making big decisions and big calls, that there's going to be a lot of second-guessing. The one thing that I don't want to have happen is people say this thing was in a financial meltdown and we didn't do anything. And so we're moving -- hard.

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