What Bush may be thinking of
FISA paragraph 1811:
Notwithstanding any other law, the President, through the Attorney General, may authorize electronic surveillance without a court order under this subchapter to acquire foreign intelligence information for a period not to exceed fifteen calendar days following a declaration of war by the Congress.
Of course, note that A) there is a 15-day limit on the authorization, and B) there must be a declaration of war by Congress, neither of which apply in this case.
Which explains why Bush felt he had to cut the FISA court out of the loop entirely.
BTW, interestingly enough, paragraph 1805 states:
(a) Necessary findings
Upon an application made pursuant to section 1804 of this title, the judge shall enter an ex parte order as requested or as modified approving the electronic surveillance if he finds that—
(1) the President has authorized the Attorney General to approve applications for electronic surveillance for foreign intelligence information;
(2) the application has been made by a Federal officer and approved by the Attorney General;
(3) on the basis of the facts submitted by the applicant there is probable cause to believe that—
(A) the target of the electronic surveillance is a foreign power or an agent of a foreign power: Provided, That no United States person may be considered a foreign power or an agent of a foreign power solely upon the basis of activities protected by the first amendment to the Constitution of the United States
as opposed to:
Q Thank you, Mr. President. You say you have an obligation to protect us. Then why not monitor those calls between Houston and L.A.? If the threat is so great, and you use the same logic, why not monitor those calls? Americans thought they weren't being spied on in calls overseas -- why not within the country, if the threat is so great?
THE PRESIDENT: We will, under current law, if we have to. We will monitor those calls. And that's why there is a FISA law. We will apply for the right to do so. And there's a difference -- let me finish -- there is a difference between detecting so we can prevent, and monitoring. And it's important to know the distinction between the two. (Bush press conference, 12/19/05)
Contempt for the law -- that's all this is.