MATT LAUER: About a week after the storm hit NBC aired a telethon asking for help for the victims of Katrina. We had celebrities coming in to ask for money. And I remember it vividly because I hosted it. And at one part of the evening I introduced Kanye West. Were you watching?

PRESIDENT GEORGE W. BUSH: Nope.

MATT LAUER: You remember what he said?

PRESIDENT GEORGE W. BUSH: Yes, I do. He called me a racist.

MATT LAUER: Well, what he said, "George Bush doesn't care about black people."

PRESIDENT GEORGE W. BUSH: That's -- "he's a racist." And I didn't appreciate it then. I don't appreciate it now. It's one thing to say, "I don't appreciate the way he's handled his business." It's another thing to say, "This man's a racist." I resent it, it's not true, and it was one of the most disgusting moments in my Presidency.

MATT LAUER: This from the book. "Five years later I can barely write those words without feeling disgust." You go on. "I faced a lot of criticism as President. I didn't like hearing people claim that I lied about Iraq's weapons of mass destruction or cut taxes to benefit the rich. But the suggestion that I was racist because of the response to Katrina represented an all time low."

PRESIDENT GEORGE W. BUSH: Yeah. I still feel that way as you read those words. I felt 'em when I heard 'em, felt 'em when I wrote 'em and I felt 'em when I'm listening to 'em.

MATT LAUER: You say you told Laura at the time it was the worst moment of your Presidency?

PRESIDENT GEORGE W. BUSH: Yes. My record was strong I felt when it came to race relations and giving people a chance. And-- it was a disgusting moment.