Keith Hennessy on Bush and the financial crisis.

One of my students asked “How involved was President Bush with what was going on?” I smiled and responded, “What you really mean is, ‘Was President Bush smart enough to understand what was going on,’ right?”
The class went dead silent. Everyone knew that this was the true meaning of the question.

I used to joke about someone explaining the collapse of Lehman to Bush and him asking how big a tax cut do we need to save Lehman?