No, that's just what Di Modica told people, presumably to better garner public support. It comes up in the original NYT reporting:
http://www.nytimes.com/1989/12/16/nyregion/soho-gift-to-wall...
You don't plop a massive bull in the middle of the Manhattan Financial District soon after a market crash to generally represent the "strength and power of the American people." It represents exactly what everyone who sees it thinks it represents.